The Investment Supervision and Policy Division has been reviewing the Prospectus Rules 2008 and the Registered Collective Investment Scheme Rules 2015.
This review has highlighted the need to change the Prospectus Rules to ensure that any new circulation of a Prospectus is registered with the Commission. In addition the proposed changes to the Registered Collective Investment Scheme Rules require material changes to the Prospectus to be disclosed immediately for closed-ended and open-ended collective investment schemes. Such a revision may be either a new Prospectus or a supplement.
We further propose that the Prospectus Rules also contain requirements for significant beneficial ownership in the designated administrator, designated custodian and trustee (if a unit trust) to be disclosed in order to regularise the disclosures across parties to the fund.
Responses should be addressed to email@example.com by 4 September 2017.
Director of Investment Supervision and Policy Division