DRAFT CIS CONDUCT STANDARD ON ADVERTISING, MARKETING AND DISCLOSURE
CISCA Board Notice 92 of 2014 (BN 92 of 2014) currently deals with matters pertaining to advertising, marketing and disclosures of a collective investment scheme (CIS) and its portfolios. Regulatory developments both locally and internationally have impacted the practical implementation of BN 92 of 2014.
As a result of these developments, it was decided that BN 92 of 2014 should be reviewed and updated. The draft Conduct Standard sets out principles and rules-based requirements for CIS managers and their authorised agents in respect of disclosures and advertising about the CIS managers and their portfolios and places an obligation on CIS managers to provide certain predefined minimum disclosures to existing and potential investors.
The draft Conduct Standard has been published for public comment. Comments are due to the FSCA on or before 4 December 2020. All submissions must be submitted via email to FSCA.RFDStandards@fsca.co.za
The draft Conduct Standard is intended to come into operation 6 months from the date of final publication.