SC unveils measures to boost unit trust industry

The Securities Commission on Thursday listed an extra set of rules for SRI sukuk, in addition to the existing guidelines on all sukuk. SRI sukuk may be used to finance projects that conserve energy, use renewable energy such as wind and solar, build public hospitals, schools or affordable housing, and develop awqaf properties.

PETALING JAYA: From next month, the Securities Commission (SC) will implement an expedited authorisation process for non-complex funds and remove the need for prospectuses to be renewed on an annual basis in an effort to enhance the competitiveness and efficiency of the Malaysian unit trust industry.

The capital market regulator said that these key changes, which would form part of the new initiatives taking effect from Aug 15, 2016, would be reflected in the amendments to the relevant guidelines such as the Guidelines on Unit Trust Funds, Prospectus Guidelines for Collective Investment Schemes and Guidelines on Sales Practices of Unlisted Capital Market Products.