Recognition of supervisory bodies conditions investment adviser registration; enlistment obligation and deemed membership follow under amended regulations. Amends the Investment Advisers Regulations to permit the Board to recognise a body or body corporate to administer and supervise investment advisers and to require enlistment with such recognised bodies as a condition to act as an investment adviser; the Board may make specified bye-laws or articles applicable. Existing advisers and certain applicants are deemed enlisted from the date of recognition. The Regulations commence on the ninetieth day from Gazette publication and include a savings provision treating past or ongoing actions regarding membership of recognised bodies as taken under corresponding regulatory provisions.
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Recognition of supervisory bodies conditions investment adviser registration; enlistment obligation and deemed membership follow under amended regulations.
Amends the Investment Advisers Regulations to permit the Board to recognise a body or body corporate to administer and supervise investment advisers and to require enlistment with such recognised bodies as a condition to act as an investment adviser; the Board may make specified bye-laws or articles applicable. Existing advisers and certain applicants are deemed enlisted from the date of recognition. The Regulations commence on the ninetieth day from Gazette publication and include a savings provision treating past or ongoing actions regarding membership of recognised bodies as taken under corresponding regulatory provisions.
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