Download:
2014 PUB BC Guidance on governance frameworks under the FMCA - 7
Oct.pdf
A PDF reader is required to read this file.
Download the free Adobe
Acrobat reader here
The Financial Markets Authority (FMA) has laid
out its expectations for how issuers of debt securities and the
managers and supervisors of managed investment schemes should
approach their governance responsibilities.
The 18-page Guidance Note, released last week, relates
to the obligations under Part 4 of the Financial Markets Conduct
Act (FMCA). It follows a consultation in June
2014.
Part 4 of the FMCA sets out certain basic statutory duties,
including the duty to act in the best interests of the investor,
together with a framework for managers of managed investment
schemes (MIS), supervisors and issuers of debt securities
to manage their respective accountabilities and relationships with
each other, investors and – ultimately – FMA.
