In carrying out its functions, the Board is supported by the regulatory, governance and industry development committees which operate within their respective defined terms of reference, thus enabling the Board to perform its fiduciary duties in a more efficient and focused manner.
Each Board member sits on various Board Committees. Within FIMM, there are a total of six (6) Board Committees and one (1) Sub-Committee.
Appeal Committee (AC)
The AC hears and decides on appeals made by persons aggrieved by the decisions of the DC.
Disciplinary Committee (DC)
The DC acts as a tribunal to conduct hearings and decide on appropriate disciplinary sanctions against FIMM’s registered persons for misconducts and/or non-compliances of FIMM’s Rules.
Regulatory Committee (RC)
As FIMM’s regulatory guardian, the RC strives to ensure that FIMM has in place proper rule-making procedures, adequate rules to discharge its regulatory functions, as well as a robust supervisory and surveillance programme.
Audit and Risk Committee (ARC)
The ARC’s key responsibilities are to ensure the highest standards of integrity in FIMM’s financial reporting, and effectiveness of internal controls, risk management and compliance with other regulatory matters.
Nomination and Remuneration Committee (NRC)
The NRC ensures that FIMM’s human resource capital strategies are suitable and efficient to meet its role as an effective SRO.
Industry Development Committee (IDC)
The IDC focuses on the growth and development of the investment management industry, and the enhancement of professional standards amongst FIMM’s Consultants. It also acts as a channel for consultation and cooperation between registered members and the SC and other authorities. Additionally, the IDC provides a forum for discussion on industry-related matters to enhance investor confidence and raise public awareness in the industry.
Private Retirement Scheme Sub-Committee (PRSSC)
Under the guidance of the IDC, the PRSSC deliberates on all matters pertaining to the orderly growth and development of the PRS industry, as well as enhancement of the professional standards of PRS Consultants. This sub-committee also provides a forum for discussion on PRS industry matters, which may include the review, development and recommendation of best practices such as industry standards, funds operations and marketing and distribution of PRS. Additionally, the PRSSC is empowered to implement the decisions made by the IDC in relation to the promotion and advertising of PRS.