Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesAdvertising, marketing and information disclosure requirements for collective investment schemesPart II : General Rules for Marketing and Advertising4. General standards for marketing and advertising a collective investment scheme |
| (1) | A manager may not advertise or market any collective investment scheme or portfolio— |
| (a) | in a manner that is likely to create a misleading or false statement, promise or forecast regarding the collective investment scheme, a portfolio or a participatory interest; |
| (b) | if such a scheme or portfolio is not registered or approved in accordance with the Act; |
| (c) | in a manner that is fraudulent, misleading or deceptive in respect of— |
| (i) | the nature of the collective investment scheme or portfolio; |
| (ii) | the conditions on which a participatory interest of a collective investment scheme or portfolio may be purchased and sold; |
| (iii) | the price at which a participatory interest may be purchased and sold; |
| (iv) | the risks associated with the collective investment scheme or portfolio; |
| (v) | the nature or scale of the activities of the manager; |
| (vi) | the resources that are available to the manager; and |
| (vii) | any other material aspects of a participatory interest, a portfolio or a collective investment scheme. |
| (2) | Prior to registration and approval by the registrar of a collective investment scheme or a portfolio, a manager may not— |
| (a) | distribute any advertising or marketing material relating to that collective investment scheme or portfolio; |
| (b) | make any reference to that collective investment scheme or portfolio at product launches. |