FIMM’s Board of Directors is empowered to establish committees and delegate any of its functions to such committee or any member of the Board as is deemed necessary or expedient to assist in the performance of its functions.
Regulatory Committee (RC)
The RC is FIMM’s regulatory guardian. The Committee ensures that FIMM has in place proper rule-making procedures, adequate rules to discharge its regulatory functions, and a robust supervisory and surveillance programme.
Disciplinary Committee (DC)
The DC acts as a tribunal to conduct hearings and decide on appropriate disciplinary sanctions against FIMM’s registered persons for misconduct and/or non-compliance of FIMMs rules.
Appeal Committee (AC)
The AC hears and decides on appeals made by persons aggrieved by the decisions of the DC.
INDUSTRY DEVELOPMENT COMMITTEES
Industry Development Committee (IDC)
The IDC focuses on the growth and development of the investment management industry and the enhancement of the professional standards of the Consultants. The Committee also acts as a channel for consultation and cooperation between registered persons and the SC and other authorities. At the same time, the IDC emphasizes on enhancing investor confidence and increase public awareness in UTS and PRS.
Private Retirement Scheme Sub-Committee (PRSSC)
The PRSSC deliberates on all matters pertaining to the orderly growth and development of the PRS Industry as well as enhances the professional standards of PRS Consultants.
Under the guidance of the IDC, the Sub-Committee provides a forum for discussion on PRS industry matters. These include reviewing, developing, and recommending best practices such as industry standards, fund operations, and marketing and distribution of PRS. In addition, the Sub-Committee is empowered to make decisions on the implementation of the promotion and advertising of PRS.
Audit & Risk Committee (ARC)
The ARC’s key responsibilities are to review the effectiveness of FIMM’s risk management and internal control systems and practices as well as FIMM’s annual financial reports.
Nomination & Remuneration Committee (NRC)
The NRC ensures that FIMM’s human capital policies and strategies are suitable and efficient for FIMM to perform its role effectively as a Self-Regulatory Organization.