Private Retirement Scheme (PRS) Provider
PRS Providers are entities that are licensed by the Securities Commission Malaysia (SC) to provide and manage private retirement schemes. PRS Providers must manage the schemes according to the deed and disclosure documents of the schemes.
PRS Providers owe a duty of care to the members of the schemes to observe high standards of integrity and fair dealing in administering the PRS and managing the funds to the best interest of the members of the schemes.
To qualify as a PRS Provider, the company must fulfilled stringent criteria as set out by the SC. The promotion of high governance is among the main tenet underlying such eligibility and operating requirements that include fund management expertise and track record; a strong balance sheet and governance structure as well as good professional standing.
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