Filing Form for Notice of Scheme Change(s) falling within 10.1B of the Code on Pooled Retirement Funds (PRF Code) and Do Not Require SFC’s Prior Approval

The Securities and Futures Commission of Hong Kong, SFC, has published a revised Filing Form for Notice of Scheme Change(s) falling within 10.1B of the Code on Pooled Retirement Funds (PRF Code) and do not require SFC’s prior approval to be used from December 22, 2023 onward. Specifically, the filing of the new form is required, if changes regarding a Pooled Retirement Fund occur that are minor in nature and DO NOT consist of any of the following, among others:
– a change in the constitutive documents of the fund (with a few exemptions noted in the Code);
– a change of the custodian;
– a change of the management company;
– the introduction of NEW fees; or
– changes in the investment objective of a CIS.
Changes not noted above do not require the prior approval of the SFC, but must be notified to the SFC nonetheless in accordance with the Code on Unit Trusts and Mutual Funds, Point 11B. The changes to the previous version are indicated in the form.