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Malaysian securities regulator to enforce new rules for unit trust sector

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Malaysian securities regulator to enforce new rules for unit trust sector

Malaysia's Securities Commission will enforce an expeditedprocess for authorizing noncomplex funds starting Aug. 15.

The Malaysian regulator said that under the expedited initiatives,approval of trust funds could take up to 10 business days after submission.Currently, such approvals can take up to three months.

Further, the requirement of yearly renewal for prospectuseswill be removed once the amended guidelines are implemented.