Fund Manager Registration involves the formal process of registering individuals or entities responsible for managing investment funds. This regulatory procedure ensures compliance with financial laws and safeguards investor interests. It’s a critical step in maintaining transparency and accountability within the financial industry. The legal basis for this process includes the Bangladesh Securities and Exchange Commission notification dated June 22, 2015, which outlines the regulatory framework and requirements for fund managers operating within the jurisdiction.
Issuing authority
Name : Bangladesh Securities and Exchange Commission (BSEC)
Address : Securities Commission Bhaban, Plot: E-6/C, Agargaon, Sher-e-Bangla Nagar
Administrative Area, Dhaka-1207
Email : secbd@bdmail.net
Website : www.sec.gov.bd
Required list of all documents
- Application as per the SCHEDULE A, Rule 3(2)1
- Memorandum and Articles of Association or such other constitutive documents [Original copy]
- Certificate of Incorporation [Original copy]
- Certificate of Commencement of Business [If aplicable]
- Audited financial statements for the latest accounting year [Original copy]
- Board resolution deciding to work as a Fund manager [Original copy]
- Bankers’ certificate and bank statements evidencing share money deposited against paid-up capital [Original copy]
- Organizational structure
- Brief profile of CEO, compliance officer and other key executives
- Office layout
- CIS Undertakings of the Fund manager and its directors
For and on behalf of the Fund manager (Name, signature with date and stamp of the applicant) needed
Step by step all process
Step 1 Application with Eligibility Assessment: A fund management company shall apply for registration to the Commission as per Schedule ‘A’, providing required information, documents, and application fee, and fulfilling the eligibility criteria of Fund Management.
Step 2 Commission Examination and Registration Decision: On receipt of the application under rule 3(2), the Commission shall examine it. If satisfied with all requirements, the Commission may accord registration as per Schedule ‘F’ within 30 days.
Step 3 Additional Requirements: If additional submissions are required or if all requirements are not initially fulfilled, the Commission may direct the applicant to comply within a specified timeframe. Registration may then be accorded within 30 days of such fulfillment. If all requirements are not met and not rectified as directed, the Commission may reject the application, providing reasons for the decision.
Step 4 Registration Fee Payment: Upon decision to award registration, the applicant shall pay the registration fee of BDT 100,000.00 within fifteen days through a bank draft or payment order issued in favor of the Bangladesh Securities and Exchange Commission.
Fee schedule
Application fee BDT 50,000.00
Registration fee BDT 1,00,000.00
Annual Fee BDT 50,000.00
Penalty Fee BDT 25,000.00
Fund management fee Up to 4% of Net asset Value (NAV) of the fund
Up to 3% of NAV of the fund
Up to 2% of NAV of the fund
Official time limit
20 days
Actual time limit