The BSP is also set to amend regulations on onboarding and the client suitability assessment (CSA) process. These amendments will help ensure that onboarding procedures are tailored to clients’ risk profiles regardless of investment mandate. The CSA process will also be expanded to capture the client’s risk tolerance and financial sophistication.
Later on, we intend to issue guidance to align the management of UITFs with the International Organization of Securities Commissions’ Principles for the Supervision of Operators of Collective Investment Schemes.