Events listed in circular
Circular to Management Companies of SFC-authorised Exchange Traded Funds (“ETFs”) – ...
ID 26594
The Securities and Futures Commission of Hong Kong (SFC) has issued a new circular addressed at managers of exchange traded funds (ETFs). In this circular, the SFC outlines the key changes in an ETF that must be notified to investors in order to enable them to make informed investment decisions and to stay up-to-date on the key characteristics of a fund. Such changes include, ...
Circulaire CSSF-CPDI 23/39
ID 26572
Circular CSSF-CPDI 23/39, serves the purpose of conducting a routine survey on deposits, with a specific focus on covered deposits. The survey is relevant to credit institutions incorporated under Luxembourg law, POST Luxembourg providing postal financial services, and Luxembourg branches of credit institutions based in third countries as of 31 December 2023. The data collected will facilitate the CPDI in determining contributions outlined in ...
Joint circular on intermediaries’ virtual asset-related activities
ID 26548
The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have issued a new joint circular addressed at financial market intermediaries engaged in virtual asset-related activities. The circular thereby provides guidance and updates on the regulatory approach for distributing virtual asset-related products (VA-related products) and providing virtual asset dealing services to investors. The circular supersedes a previous one recently ...
Circular to management companies of SFC-authorised unit trusts and mutual funds ...
ID 26529
On December 22, 2023, the Securities and Futures Commission (SFC) issued a circular to inform that it has updated various documents, including FAQs, checklists, and guidances for SFC-authorized funds after a thorough review and engagement with market participants. The aim was to improve operational efficiency particularly in the authorization process without compromising investor protection. The key changes include the following: **(1) Appointment of investment ...
Handling of Applications for Early Withdrawal of Accrued Benefits on Grounds of ...
ID 26523
Terence Chan, the Sr. Manager of the Supervision Division of the MPFA, has issued a circular addressed at all registered intermediaries expressing his concern resulting from a rise in subsidiary intermediaries‘ assistance in submitting false claims for the members‘ early withdrawal from their MPF accrued benefits on the grounds of permanent departure from HK recently. In this circular, the manager stresses that this is ...
Circular on SFC-authorised funds with exposure to virtual assets
ID 26522
This Circular on SFC-authorised funds with exposure to virtual assets (VA-funds) was published by the Securities and Futures Commission of Hong Kong (SFC) on December 22, 2023. **It updates and replaces a similar circular issued in October 2022 in which the Commission informed of its permission to offer „exchange traded funds (ETFs) that obtain exposure to virtual assets (VAs) primarily through futures contracts“ in ...
Strengthen the Measures to Guard Against Fraudulent Activities
ID 26507
The Mandatory Provident Fund Schemes Authority, MPFA has issued a circular addressed at Mandatory Provident Fund (MPF) trustees to remind them of the crucial role they play in safeguarding the MPF system against fraudulent activities. In it, the MPFA emphasizes the evolving nature of fraud in the MPF system and the imperative for trustees to continually enhance their protective measures in relation to unauthorized ...
Managing cyber risk associated with third-party service providers (PDF File, 176.9 ...
ID 26481
With the rise in digitalisation in the banking industry, the usage of third-party service providers has risen as well, resulting in cyber attacks growing correlatively. Therefore, Raymond Chan, the Executive Director (Banking Supervision) of the HKMA, has drawn up a circular addressed at all Chief Executives of authorized institutions (AIs) with guidelines on how to handle cyber security when using third-party service providers, referring ...
Rundschreiben 12/2023 (GW)
ID 26192
Die BaFin veröffentlichte das Rundschreiben 12/2023 (GW) betreffend Drittstaaten, die in ihren Systemen zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung strategische Mängel aufweisen, die wesentliche Risiken für das internationale Finanzsystem darstellen (Hochrisiko-Staaten) veröffentlicht, um den Kampf gegen Geldwäsche, Terrorismusfinanzierung und die Finanzierung der Proliferation (Verbreitung von Massenvernichtungswaffen) zu intensivieren. Dieses Rundschreiben, ba ...
Circular to intermediaries SFC and HKMA joint product survey 2023
ID 26156
The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have issued a joint circular to inform intermediaries with type 1 or type 4 registrations about the upcoming yearly survey on sales data on certain investment products. In detail, the survey covers „the sale of non-exchange-traded investment products such as collective investment schemes, debt securities, structured products, swaps, swaptions and repos“ ...