Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Trustees' and fund managers' conduct: require asset segregation, fair unitholder treatment, conflict disclosure, ban commingling and market manipulation</h1> Prescribes a comprehensive code of conduct for trustees, asset management companies, fund managers and dealers: requires maintenance of integrity and fairness, equitable treatment of all unitholders and prohibition of managing schemes for sponsors' or insiders' benefit, with the operative effect that decisions must prioritize unitholders and discriminatory conduct is prohibited. Mandates segregation and ring-fencing of each scheme's assets, liabilities and accounts, with the operative effect that cross-scheme commingling is disallowed. Requires accurate, timely disclosure of investment policies and financial affairs, with the operative effect that communications must be clear and disseminated to all unitholders. Imposes conflict-of-interest, gift, inducement and disclosure obligations, with the operative effect that interests must be declared and improper benefits forbidden. Prohibits manipulative, circular, routing or deceptive trading and unfair allocation practices and mandates written investment justifications and recordkeeping, with the operative effect that market-distorting conduct and inadequate documentation are barred.
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