(1) When delegating, a
Fund Manager or Trustee must:
(a) carry out due diligence on a proposed
Service Provider to ensure eligibility prior to effecting a delegation of a Financial Services activity; and
(2) Delegation to a
Service Provider does not relieve the Fund Manager or Trustee from accountability for the proper conduct of a delegated activity.
DFSA may, as a condition on a Fund Manager's or Trustee's Licence, require the delegation of one or more specified Financial Service activities to a Service Provider.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]