> Management of Mutual Fund > Authority of the SEC Regulations SHARE : Detail Content Management of Mutual Fund 1. Authority of the SEC To ensure that the management of a mutual fund is in accordance with
organizational structure comprises three tiers of authority, namely: 1. The SEC Board responsible for policy-level regulations and oversight of market development; 2. The Capital Market Supervisory Board
for public offerings. Also a concern at the initial stage of development was the overlapped market supervision under the authority of multiple agencies as seen in the following areas: Securities
group comprise independent audit regulators from four ASEAN jurisdictions, namely the Audit Oversight Board of Malaysia (AOB), the Accounting and Corporate Regulatory Authority of Singapore
board of directors to be members of “audit committee." Audit committee is responsible for reviewing financial statements, internal control system, and ensuring that the company has disclosed information
directors and non-executive directors should support proper checks and balances to prevent unfettered power of decision and authority by any one individual, whereby: a) the majority of the board should be
company secretary? In case of commission of a legal offence, unintentionally or dishonestly, how would the company secretary be penalized? A: The person(s) with the management authority shall hold
invested securities on a regular schedule. Such incidents are beyond the control of the mutual fund management company and the mutual fund supervisor is informed and acknowledged about the situation. (5) The