On-Going Compliance Form for Reporting of Pricing Errors

The Securities and Futures Commission of Hong Kong, SFC, has issued a revised form for the reporting of erroneous NAVs to the Commission. Just like the form mentioned in EventID 24455 on the filing of pricing errors, this form requires information on
– the investment fund affected by the error (fund name, custodian, fund management company, etc.);
– type of error occurred and the respective error date;
– the duration of the error and the impact upon investors;
– the party responsible for the error and the party who detected the error; and
– the arrangements made by the investment fund to compensate for the NAV error, if necessary.
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Additionally, this form requires detailed information on possibly affected investors, such as the number of subscribing investors during the (error) period, the total number of HK investors having subscribed during the (error) period, and the total number of redeeming investors during the (error) period. The form also requires information on ILAS that are investors in the fund during the time that the error occurred.