KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has reprimanded two former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for misconduct/breaches of FIMM’s Code of Ethics and Rules of Professional Conduct (Unit Trust Funds), Second Edition (FIMM’s Code).
In a statement, FIMM said one of the consultants was found to have promoted and distributed RHB Emerging Income Fund (RHB EIF), a unit trust fund offered to sophisticated investors, to an investor who did not qualify as a sophisticated investor.