PRS Distributors and Consultant

A PRS Consultant may represent

• One principal

• Two principal

• Three principal

• Four principal

Following are the eligibility requirement to be a PRS consultant

• Be at least 18 years of age

• Has passed SPM and obtained credit in BM, English or Mandarin and Mathematics

• Has passed the PRS Examination

• Has a minimum operating capital of RM100, 000

Code of Ethics for PRS Consultants includes

• Professionalism

• Confidentiality

• Good faith

• Competence

The PRS Distributor and Consultant must only use advertisement and promotional material that have been approved by

• FiMM

• Scheme Trustee

• PRS Provider

• PRS Advisor

In order to maintain the high standards of professional conduct, any PRS Distributor and Consultant who have breached the provisions of Code of Ethics and Standards of Professional Conduct shall be subject to actions that may be taken which includes;

• A private reprimand

• A public reprimand

• A suspension

• Revocation of registration to FIMM

In the process of servicing the PRS member, the following are necessary steps

• Know your product

• Influence the PRS member to invest as much as possible

• Assess the needs and match the funds

• Managing expectations

In Rendering Investment Advice, the following need to be taken into consideration

• Age and personal circumstance of PRS member

• Risk tolerance of PRS member

• Highlighting the key risks of the PRS funds

• PRS consultant’s preference

Fair dealing requires

• Impartiality

• Intellectual honesty

• Aggressive sales tactics

• Disclosure of conflicts of interest

Professionalism of a PRS Consultant would be demonstrated by doing the following;

• Knowledge in all aspects of the PRS and the funds they are marketing

• Compliant with the best business practices

• deal with investors in good faith and ensure fair treatment of investors

• Pressuring the member to make fast decision

PRS Consultant acting with due care, skill and diligence also includes

• Omit material fact to influence the member to invest according to preference of the consultant

• Ensure that the funds and PRS is suitable to the needs of the member

• Ensure the investment plan is within the resources of the member

• Take all reasonable steps to provide the member with comprehensive and relevant information for him to make a balanced and informed decision