COB 12.3.9

(1) The Operator of a Scheme must:
(a) establish a range of investment options offered on the Investment Platform, which are suitable for the investment objectives and risk profile of the different classes of Members of the Scheme;
(b) ensure that the investment options include investments that are suitable for Members who are:
(i) highly risk averse, and therefore, for whom capital preservation is paramount; or
(ii) seeking Shari’a compliant options;
(c) take appropriate action to remove any investment option that is found to not be meeting the applicable criteria; and
(d) implement adequate measures to protect the interests of Members when an investment option is to be removed from the Investment Platform.
(2) The Operator of a Scheme must consult with a Professional Adviser before carrying out its functions under (1).
(3) Where the Operator of a Scheme does not act on a recommendation provided by the Professional Adviser, the Operator must do so on reasonable grounds which are clearly documented.
(4) The Professional Adviser referred to in (2) must be a person who:
(a) is either:
(i) authorised under its Licence for Advising on Financial Products; or
(ii) regulated and supervised for that activity by a Financial Services Regulator;
(b) has appropriate skills and expertise relating to the type of investment options that are to be offered on the Investment Platform; and
(c) is independent of the Operator and Administrator of the Scheme.
Derived from DFSA RMI261/2019 (Made 18th December 2019). [VER35/01-20]
[Amended] DFSA RMI302/2021 (Made 30th June 2021). [VER38/09-21]