KUALA LUMPUR: The Securities Commission Malaysia, acknowledging the important role of the'' Federation of Investment Managers Malaysia (FIMM), announced that FIMM is now recognised as a self-regulatory organisation (SRO) for the unit trust industry.
'As an SRO recognised under Section 323 of the Capital Markets and Services Act 2007, FIMM will regulate its own members while also ensuring that investors are protected and public interests are upheld,' the SC said on Monday, Feb 28.
The regulator said the FIMM's immediate task is to enhance professionalism of sales agents and distributors through industry training and draw up a robust sales practices regime with adequate supervision and monitoring by FIMM.
'This is necessary to elevate investor confidence and protection when investing in unit trust products and also to help investors avoid being misled into investing in a product that is not suitable for them.''FIMM will also be another avenue for investors to lodge any grievances or queries on the unit trust industry,' the SC said.
'As an SRO recognised under Section 323 of the Capital Markets and Services Act 2007, FIMM will regulate its own members while also ensuring that investors are protected and public interests are upheld,' the SC said on Monday, Feb 28.
The regulator said the FIMM's immediate task is to enhance professionalism of sales agents and distributors through industry training and draw up a robust sales practices regime with adequate supervision and monitoring by FIMM.
'This is necessary to elevate investor confidence and protection when investing in unit trust products and also to help investors avoid being misled into investing in a product that is not suitable for them.''FIMM will also be another avenue for investors to lodge any grievances or queries on the unit trust industry,' the SC said.
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