CIR 13.8.2 Guidance

1. A Fund Manager must carry out the due diligence required under CIR Rule 13.8.2 as part of its internal procedures. However, this does not prevent it from using a service provider to carry out the necessary due diligence, provided the outsourcing requirements in these Rules are met.
2. A Fund Manager will not meet the due diligence requirements in the Rule if it relies solely on credit ratings issued by a credit rating agency. This is because assessment of credit quality is only part of the due diligence required under the Rule.
3. A Fund Manager should keep appropriate records of the due diligence it has conducted on an Investment to demonstrate that it has complied with the Rule.
[Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]