Sets out the best practices that managers, approved trustees, VCC directors and VCC custodians of collective investment schemes offered to retail public are expected to observe on management, operation and marketing of the schemes.

Form for approved trustees to apply for the appointment of a Chief Executive Officer, director, or other key person.

Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.

Sets out the requirements for an offer of units in a collective investment scheme, including amongst others, covenants to be included in the trust deed, the prescribed contents in a prospectus, advertising requirements, and restricted schemes.

This circular applies to approved collective investment scheme (CIS) trustees. All trustees of an authorised CIS are reminded to exercise due care and skill in appointing any third party custodian and reviewing custodian arrangements.