Agents of financial institutions who sell participation in pooled trust funds must now pass a rigorous licensing program to help ensure that clients are fully apprised of the risks involved in theseinvestments. In a press statement, the Bangko Sentral ng Pilipinas (BSP) said its Monetary Board recently approved the amendment of existing regulations to strengthen the qualification requirements of Unit Investment Trust Fund (UITF) marketing personnel. "The new rule requires all personnel involved in the sales and marketing of UITF to be certified through a certification program administered by a reputable financial services industry association/organization acceptable to the ...
Keep on reading: BSP tightens license rules for sale of pooled trust investments
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