INTERNATIONAL: IOSCO Report on Collective Investment Scheme Governance

Monday February 26 2007

IOSCO has published a final report on Governance of Collective Investment Schemes. This follows on from Part I of the report which was published in June 2006 and which included a detailed description of the approach of each member jurisdiction to CIS Governance.

The objective of Part II of the Report is to `identify one primary general principle of independent review and oversight of all CIS operators to be applied in all [SC5] jurisdictions.` However, there is the conclusion that `There is no unique structural or optimal solution to the implementation aspects of governance in the case of CIS.`The Report also includes a Feedback Statement to the repsonses received to its 2006 consultation.

The Report can be found at the above link.