FUND ADMINISTRATION

The Authority may issue codes of conduct as to the duties, requirements and standards to be complied with, and the procedures and sound principles to be observed by persons carrying on the business of fund administration.

Every licensed Fund Administrator must comply with any code of conduct issued by the Authority. A failure on the part of a licensed fund administrator to comply with the provisions of such a code will be taken into account by the Authority in determining whether the business is being conducted in a prudent manner.