The Securities and Exchange Commission (SEC) has assured the investing public that it has put measures in place to ensure a vibrant asset management industry.

This follows the circulation of rumours among the public predicting the collapse of some licensed asset management firms, which have created uncertainty and fear amongst investors, causing some panic withdrawals from managed fund schemes.

In a statement released on March 18, SEC indicated that it has introduced corporate governance guidelines, investment guidelines and financial resources guidelines to ensure properly capitalized and well-governed asset management firms.

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