REGULATORY FRAMEWORK OF UNIT TRUST FUND IN MALAYSIA

The establishment and operation of unit trust funds is governed by the Capital Market and Services Act, 2007, and the Guidelines, as amended from time to time; and administered by the Securities Commission which is the regulatory body of unit trust funds in Malaysia. The law requires, amongst others, that the trust deed be registered and that the appointment of the manager, trustee, investment manager, manager's directors, chief executive officer, the investment committee members and the syariah committee members be approved by the Securities Commission.