Scheme fiduciary requirements mandate fit and proper persons, prior approval for retail schemes, and compliance with prescribed conduct obligations. Regulation 17 requires a Fund Management Entity to appoint prescribed fiduciaries before filing a scheme document. Companies require a Board of Directors, ... Summary
Scheme fiduciary requirements mandate fit and proper persons, prior approval for retail schemes, and compliance with prescribed conduct obligations.
Regulation 17 requires a Fund Management Entity to appoint prescribed fiduciaries before filing a scheme document. Companies require a Board of Directors, limited liability partnerships require Designated Partners, and trusts require Trustees, including the board of a trustee company where applicable. All fiduciaries must meet fit and proper requirements. Appointment of fiduciaries for retail schemes requires prior approval, and fiduciaries must comply with the applicable Code of Conduct and obligations.
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