Information Checklist for Investment-linked Assurance Schemes

The Securities and Futures Commission of Hong Kong (SFC) has issued a revised Information Checklist for Investment-Linked Assurance Schemes (ILAS). The checklist was introduced in 2021 to be used from November 1, 2021 when applying for authorization of an investment-linked assurance scheme (ILAS). Among other issues, the checklist contains or requires information on:
(1) the scheme itself (i.e. name, investment objectives, fees, etc.);
(2) the basic documents that must be submitted to the SFC along with this checklist (i.e. the „no objection“ letter from the Insurance Authority); and
(3) the confirmation forms / letters to be submitted to verify compliance with the authorization conditions and terms of the SFC or to nominate approved persons to the scheme.
There are two notable changes from the previous version:
1. Annex D on the nomination of approved persons has been removed; and
2. The Appendix regarding the „Personal Information Collection Statement“ has been removed.