While retail funds must be authorized by the Securities and Futures Commission (“SFC”) before distribution in Hong Kong, the SFC has no authority to regulate private funds. Unable to touch these funds directly, the SFC has instead imposed new regulatory requirements on licensed asset managers, financial advisers and fund distributors. This article reviews amendments to the Code of Conduct for Persons Licensed by or Registered with the SFC, and the Fund Manager Code of Conduct, highlighting potential difficulties that intermediaries may face in ensuring compliance with the revised codes by August 17, 2018 and November 17, 2018 respectively.
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Decoding the Codes: How Changes to SFC Codes of Conduct will Impact Asset Managers and Fund Distributors
Over the course of this year, asset managers will need to implement changes to their policies and procedures, their service agreements and fund offering documen
Hong Kong: The Investment Fund Industry's Gateway To China
The QDII scheme enables PRC persons to invest in overseas financial products through QDII funds established by PRC banks and fund management companies. Limited
Tax Exemption for Open-Ended Fund Companies
Hong Kong’s new open-ended fund companies (“OFCs”) can qualify for exemption from profits tax in a number of ways including through the offshore funds tax exemp
Non-Hong Kong Investment Funds: Relaxation Of SFC Authorization Practices
This article looks at recent developments which suggest a relaxation of SFC authorization requirements for collective investment schemes based outside of Hong K
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