Malaysia legislation
Section 40
Section 40
(2)
Notwithstanding subsection (1), the following persons may carry on business as a fund manager of a public fund:
(a)
a person who is and continues to be a qualified and authorized manager of mutual funds under the laws of any recognized country or jurisdiction and has received written permission from the Authority to carry on business as manager of public funds; or
(b)
a bank licensee.
Labuan Financial Services and Securities 61
(3)
A fund manager who is carrying on fund management activities in relation to a private fund only is not required to be licensed under this Part.
Licensing of fund administrators