posted 7th February 2021
We believe in order to best serve the investor, industry credibility and integrity as a whole, when a fund is put at risk or suspended the ACD who manages the oversight of that fund should resign as the ACD and a new ACD be allocated for the fund which has been placed into a category of suspension or failure.
This will immediately remove any further conflict or damage to both the fund manager and ACD but we appreciate this is easier said than done.
By creating a clear criteria of what happens when a fund reaches prolonged difficulty and by removing the, now conflicted parties, from the fund oversight we believe this will best serve the investors, fund and industry as a whole.
We have put together what a step by step guide would look like in the event that a fund was failing over a prolonged period or put into suspension...
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