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MKT A3.1.2



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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

A Reporting EntityG of a Listed FundG must, on the occurrence of an event specified in column 1, make the required disclosure detailed in column 2, within the time specified in column 3.

Note:. Unless otherwise indicated, the disclosure required relates to the operation and matters relating to the Listed FundG . The Reporting EntityG of a Listed FundG must construe the items specified in the event column in an appropriate manner to achieve the fundamental purpose of making the required disclosure of information relating to the Listed FundG .

APP 3
  EVENT GIVING RISE TO DISCLOSURE DISCLOSURE REQUIREMENT TIME OF DISCLOSURE
1. INSIDE INFORMATIONG
1.1 Inside InformationG as set out in Rule 6.5.1 relating to the Listed FundG . Market disclosure of the Inside InformationG , unless the disclosure exception under Rule 6.5.4 applies. As soon as possible.
2. GOVERNANCE OF THE LISTED FUNDG AND THE REPORTING ENTITYG
2.1. Any change to the Governing BodyG of the Listed FundG including:
(a) the appointment of a new DirectorG , Partner or other member of the Governing BodyG ;
(b) the resignation, retirement or removal of any PersonG referred to in (a); and
(c) changes to any important functions or executive responsibilities of a PersonG referred to in (a).
Market disclosure of:
(a) the effective date of the change (if it has been decided);
(b) whether the position is executive or non-executive;
(c) whether the position is considered to be independent; and
(d) the nature of any functions or responsibility of the position.
As soon as possible.
2.2. Information in respect of a new DirectorG , Partner or other member of the Governing BodyG . Market disclosure of:
(a) all directorships or partnerships past or present held by the DirectorG , PartnerG or other member of the Governing BodyG in any other Body CorporateG or Partnership in the previous five years;
(b) the experience of the PersonsG referred to in (a);
(c) details of the process by which the PersonG referred to in (a) was selected;
(d) any unspent convictions relating to serious financial crimes;
(e) any bankruptcies or individual voluntary arrangements;
(f) any compulsory liquidations, creditors voluntary liquidations, company voluntary arrangements, receivership or any composition or arrangement with its creditors generally or any class of its creditors of any issuer where such an individual was a DirectorG or PartnerG at the time of appointment or within the 12 months preceding such events; and
(g) any public criticisms or disqualifications of the individual by governmental or regulatory authorities and whether the individual has ever been disqualified by a court from acting as a DirectorG of a Body CorporateG , General PartnerG of a partnership or from acting in the management or conduct of the affairs of any Body CorporateG or Listed FundG , if there are no such details to be disclosed, a statement to that effect.
Within 7 days.
2.3 Any event that requires Unitholder approval under the Collective Investment Law 2010 and CIR Rules Market disclosure of:
(a) the nature, details, contents and effect of the relevant event; and
(b) any material change affecting any matter contained in an earlier disclosure.
As soon as possible.
2.4 Any resolution adopted by the Listed FundG other than a resolution concerning ordinary business of the Listed FundG . Market disclosure of the resolution. As soon as possible.
3. BUSINESS OF THE LISTED FUNDG
3.1 Transactions undertaken which could result in:
(a) any significant investment (being any investments equal to or greater than 5 per cent of the net asset value of the fund)or material change to a significant investment outside the stated investment strategy of the Listed FundG ; or
(b) the incurring of any significant debt outside the usual and ordinary course of business of the Listed FundG (being debt with an amount equal to or greater than 5 per cent of the net asset value of the fund) taking into account the stated investment strategy.
Market disclosure relating to:
(a) any decision to enter into such a transaction;
(b) any material change or new matter affecting any matter contained in an earlier disclosure; and
(c) a full description of the event, activity or transaction proposed or effected as the case may be.
Without delay.
4. DISCLOSURE RELATING TO UNITS OF THE LISTED FUNDG
4.1 Any decision:
(a) to declare, recommend or pay any dividend not previously disclosed;
(b) to make any other distribution on the UnitsG ; or
(c) not to declare, recommend or pay any dividend which would otherwise have been expected to have been declared, recommended or paid in the normal course of events.
Market disclosure of the decision, including the rate and amount of and record date for the dividend or other distribution or the grounds for the decision in relation to non-payment. As soon as possible and in any event no later than 5 days prior to the record date or the date of expected distribution.
4.2 Any decision made in regard to:
(a) any change in the general character or nature of the Listed FundG ;
(b) any change in the redemption of all or any of the Units of the Listed FundG ;
(c) any change to its published investment policies or objectives, investment restrictions or borrowing restrictions;
(d) any change in the way in which net asset value or issue and redemption prices are calculated, or in the frequency of calculation of the net asset value;
(e) any change in the manner in which the management fees payable by the Listed FundG are calculated;
(f) any changes in the trustee, custodian or prime broker(s), Investment ManagerG , AdvisorG , Fund AdministratorG or auditor;
(g) any changes in the control of the trustee, custodian or prime broker(s), Investment ManagerG or AdvisorG ;
(h) any change in the tax status of the Listed FundG ;
(i) any suspension in the calculation of net asset value or of redemptions; or
(j) details of any repurchase, drawing or redemption by the Listed FundG or any of its subsidiaries of the Listed Fund'sG Listed SecuritiesG , unless the purchases are made pursuant to the requirements in the Listing RulesG on purchase of own SharesG .
Market disclosure of the decision and all relevant details relating to the decision. As soon as possible.
4.3 Admission to listing or trading of the same class of UnitsG on a Regulated ExchangeG . Market disclosure of all the relevant details relating to the admission to listing or trading. As soon as possible.
4.4 Any other disclosure required to be made pursuant to the requirements in the Regulated ExchangeG arising from the listing or trading of the same class of UnitsG on that exchange where such disclosure is not made in the DIFCG . Market disclosure of the information required to be disclosed to the Regulated ExchangeG . As soon as such disclosure is made on the Regulated ExchangeG .
4.5 Any change of the Trustee, custodian or depositary in relation to the Listed FundG . Market disclosure of the details relating to the new TrusteeG , custodian or depository and any implication/effect of this change. As soon as possible.
4.6 Proposed and new issues of UnitsG . Market disclosure of the class, number, date of issue, and consideration received for the issue of the UnitsG and details of changes in the capital. As soon as possible.
5. DISCLOSURE OF INTERESTS
5.1 The requirement to file a report of interests held by a Connected PersonG pursuant to Article 42(1). Market disclosure of the information set out in Rule 6.6.3. As soon as possible.
5.2 The requirement to give a notice of a Director'sG material interests pursuant to Article 43 of the Law. Market disclosure of the information set out in Rule 6.7.3(3). As soon as possible.
6. FINANCIAL INFORMATION RELATING TO THE LISTED FUNDG
6.1 The preparation and approval of the financial reports. Market disclosure of the annual and interim financial report prepared in accordance with the requirement in Rule 5.1.2 (which requires the preparation of such financial reports relating to Listed FundsG in accordance with the requirements in the Collective Investment Law 2010 and the CIR Rules in the case of a Listed FundG which is a Domestic FundG and in the case of a Foreign FundG , in accordance with the applicable financial reporting requirements in the jurisdiction of incorporation or domicile of the Foreign FundG . In the case of a Domestic FundG in accordance with CIR 9.4.2 and in the case of a Foreign FundG the earlier of the period allowed under CIR 9.4.2 or the period for filing under the home jurisdiction requirements.
6.2 Any change to the accounting reference date. Market disclosure of the previous and new accounting reference date, and reasons for the change. As soon possible.
7. MATTERS RELATING TO THE CAPITAL OF THE LISTED FUNDG
7.1 Any proposed new issue of UnitsG . Market disclosure of the class, number and proposed date of the proposed issue. As soon as possible after the decision is made.
7.2 Results of the new issue. Market disclosure of the results of the issue including total consideration received. As soon as possible.
8. TRANSFER SCHEME/WINDING UP OF THE LISTED FUNDG
8.1 In the case of a transfer scheme or winding up of a Listed FundG :
(a) the passing of any resolution by the Listed FundG or any members of the Listed FundG that it be wound up by way of members' or creditors' voluntary winding-up, or the occurrence of any event or termination of any period of time which would cause termination or winding-up of the Fund; and
(b) either:
(i) the presentation of the relevant applications made pursuant to the requirements in Part 8 of the CIR Rules in the case of a Domestic FundG ; or
(ii) the applications made pursuant to the relevant legislation applicable in the home jurisdiction of the Listed FundG in the case of a Foreign FundG .
Market disclosure of the:
(a) time and date of the presentation, details of the order, appointment, resolution or other event;
(b) identity of the petitioner or other PersonG at whose instigation the event occurs;
(c) the court or tribunal responsible for making any order; or
(d) any administrator or liquidator appointed.
As soon as possible.
9. OTHER DISCLOSURES RELATING TO THE LISTED FUNDG
9.1 A change to the legal structure of the Listed FundG (unless it is required to be disclosed under 2.3 or 2.4). Market Disclosure of any proposed change As soon as possible.
9.2 A change in fees (including management fees by whatever named called) or charges imposed on holders of UnitsG . Market Disclosure of any change in the fee structure of a Listed FundG . As soon as possible.
9.3 A change in the investment management of the Listed FundG . Market Disclosure of any proposed change in the investment management of the Listed FundG . As soon as possible.
9.4 Any closure of the Listed Fund'sG register of security holders. Market disclosure of the closure. At least fourteen (14) days before the closure.
9.5 Any meeting of holders of SecuritiesG . Market disclosure of notice. At the same time as such notice is sent to the holders of SecuritiesG .
9.6 The final timetable for any proposed action affecting the rights of existing holders of its Listed SecuritiesG . Market Disclosure. As soon as possible after finalisation of the timetable with the DFSAG .
9.7 Changes to rights attaching to Listed SecuritiesG or other SecuritiesG into which they convert. Market disclosure of the:
(a) the class of SecuritiesG to which the changes apply;
(b) the date on which the changes become effective;
(c) confirmation that consent of the holders of the SecuritiesG (and any other holders of relevant SecuritiesG ) has been obtained and the date that such consent was obtained; and
(d) a summary of the changes.
As soon as possible.
10. DISCLOSURE RELATING TO EXCHANGE TRADED FUNDS
10.1 Any changes relating to the type of ETFG and associated risks. Market disclosure. As soon as possible.
10.2 Any changes relating to the ETFG 's cost structure. Market disclosure. At the same time as the proposed change is notified to investors in the ETFG .
10.3 Any changes relating to tracking error. Market disclosure. As soon as possible.
Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
[Amended] DFSA RM120/2013 (Made 14th July 2013). [VER4/07-13]
[Amended] DFSA RM171/2016 (Made 10th February 2016). [VER8/04-16]
[Amended] DFSA RM219/2018 (Made 22nd February 2018). [VER13/12-18]