The Regulatory Guillotine* scheme is one of the key projects supporting the implementation of SEC Strategic Plan in the area of competitiveness enhancement and connectivity. The scheme enables a regulatory framework that requires issuance and revision of necessary rules and regulations and promotion of effective enforcement in line with international standards and current situations.   

In this regard, SEC has reviewed regulations on the operation of investment management business as prescribed in two notifications by applying the guidelines of the Regulatory Guillotine scheme to ensure appropriateness and consistency with current situations. The two notifications are:   

(1)  Notification of the Office of the Securities and Exchange Commission regarding Reporting of Results of Public Offering of Investment Units dated 20 July 1992, and

(2)  Notification of the Office of the Securities and Exchange Commission regarding Appointment of Investment Unit Selling and Redemption Agents dated 6 August 1993.  

The repeal of the above notifications will be published in the Government Gazette and become effective from 16 January 2021.

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Remark:
Regulatory Guillotine is the regulatory review of the existing laws and regulations. The reviewed laws and regulations that are not necessary or do not keep pace with situations or remain obstacles to living or occupations will be abolished or revised to lessen burden on people. By doing so, methods used must be done with speed, transparency, low costs with participation of all related parties.