Form of confirmation and undertaking on compliance with the OP Section of the Handbook and the Advertising Guidelines

The Securities and Futures Commission, SFC, has issued a revised Form of Confirmation and Undertaking to be used by so-called paper gold schemes (PGS) which facilitate investments in gold primarily through the use of ownership certificates. The form confirms and undertakes that:
– the applicant and the scheme comply with the overarching principles section of the SFC Handbook for Unit Trusts and Mutual Funds, Investment-linked Assurance Schemes, and Unlisted Structured Investment Products.
– all advertisements and invitations to invest in the scheme will comply with the advertising guidelines applicable to Collective Investment Schemes (CIS) authorized under the Product Codes promulgated by the SFC in 2018.
– an individual will be nominated for approval by the SFC as an „approved person“ for the scheme and for the issuance of any related advertisement, invitation, or document.
The approved person must thereby meet certain requirements, including having its ordinary residence in Hong Kong, being capable of being contacted by the SFC during business hours, and informing the SFC of any change in its contact details within 14 days after the change takes place.