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Labuan FSA Revises Guidelines on Establishment of Labuan Fund Managers
Labuan Financial Services Authority (Labuan FSA) on 13 February 2014 issued revised guidelines on the establishment of Labuan fund managers, effective immediately.
The revised guidelines replace the Guidelines on the Establishment of Fund Management Companies. They expand on the older guidelines, covering in greater detail the application procedures, operational and regulatory requirements for Labuan fund managers in the Labuan International Business and Financial Centre. Other than outlining the permitted activities of a Labuan fund manager, the guidelines also introduce a section called “Market Conduct and Practices”, which further elaborates on the requirements previously listed under the “Business Ethics” section.

A Labuan fund manager is defined as a person who provides management services, such as investment advice or administrative services with respect to securities for the purposes of investment, including dealing in securities. A Labuan fund manager undertaking Islamic fund management activities shall also ensure that its operations comply with Shariah principles.
For the comprehensive guidelines on the establishment of Labuan fund managers, please refer to the attachment.

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