Trustees' core responsibilities clarified to ensure independent oversight of AMC fees, conflicts, systems and prevention of misconduct. Trustees must exercise independent due diligence on core responsibilities including fairness of AMC fees, scheme performance review, systems to prevent mis selling and valuation issues, prevention of undue influence by sponsors/associates, avoidance of unfair advantage to group entities, management of conflicts between AMC stakeholders and unitholders, and controls against misconduct and market abuse; Trustees must obtain system based exception reports and automated alerts from AMCs, independently evaluate compliance, and review remediation for incomplete or outdated KYC attributes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustees' core responsibilities clarified to ensure independent oversight of AMC fees, conflicts, systems and prevention of misconduct.
Trustees must exercise independent due diligence on core responsibilities including fairness of AMC fees, scheme performance review, systems to prevent mis selling and valuation issues, prevention of undue influence by sponsors/associates, avoidance of unfair advantage to group entities, management of conflicts between AMC stakeholders and unitholders, and controls against misconduct and market abuse; Trustees must obtain system based exception reports and automated alerts from AMCs, independently evaluate compliance, and review remediation for incomplete or outdated KYC attributes.
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