CMFAS M8 Structure & Parties to a Fund question: authorised local and recognised foreign schemes

CMFAS M8Structure & Parties to a Fund

In Singapore, retail collective investment schemes (both authorised local and recognised foreign schemes) must comply with which of the following?

A Only the trust deed agreed between the manager and the trustee
B The Code on Collective Investment Schemes and the SFA
C The Insurance Act 1966 only
D No external rules, provided an independent trustee is appointed

Show the answer and explanation

Answer: B. The Code on Collective Investment Schemes and the SFA

Authorised (local) and recognised (foreign) retail schemes must comply with the Code on Collective Investment Schemes and the Securities and Futures Act, which enshrine the investor-protection safeguards.

Common mistake

Assuming the trust deed alone governs, or citing insurance legislation, rather than the CIS Code and SFA.

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CMFAS M8 Structure & Parties to a Fund question: authorised local and recognised foreign schemes

Answer: B. The Code on Collective Investment Schemes and the SFA

Common mistake

Related CMFAS M8 questions

CMFAS M8 Structure & Parties to a Fund question: authorised local and recognised foreign schemes

Answer: B. The Code on Collective Investment Schemes and the SFA

Common mistake

Related CMFAS M8 questions