WHAT ARE THE LICENSING REQUIREMENTS FOR OPERATING A MUTUAL FUND?
a. For a mutual fund the first step is the incorporation of a Mutual Fund Company under the Companies Code 1963 (Act 197) as a public limited liability company with the sole aim of holding and managing portfolio of securities and other financial assets. b. After the incorporation of the company, an application is made by the company to the Securities and Exchange Commission (SEC) for a license to operate the fund. c. The Securities and Exchange Commission requires the following documents to be submitted to it for its review for the issue of a licence to operate a mutual fund. i. Company Regulation ii. Management Agreement iii. Custodial Agreement iv.
