Events listed in Hong Kong
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 ...
FAQs – Publicly offered investment products: Revamped Post Authorization ...
ID 26526
On December 22, 2023, the Securities and Futures Commission of Hong Kong (SFC) published revised Frequently Asked Questions on Revamped Post Authorization Process of SFC-authorized Unit Trusts and Mutual Funds. Generally speaking, these cover issues such as the types of applications handled under the „revamped process“, the time limit to submit all relevant documentations to the SFC, or the channels via which documents must ...
FAQs – Publicly offered investment products: Code on Unit Trusts and Mutual ...
ID 26525
The Securities and Futures Commission of Hong Kong (SFC) has published a revised version of its frequently asked questions (FAQs) on the Code on Unit Trusts and Mutual Funds. The FAQs cover nearly all aspects (requirements) set out in the Code, including the following: – basic requirements for fund authorization; – fund’s structure and domicile and obligations relating thereto; – fund managers‘ eligibility requirements; ...
On-Going Compliance Form for Reporting of Pricing Errors
ID 26524
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 ...
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 ...
FAQs – Publicly offered investment products: Guide on Practices and ...
ID 26513
The Securities and Futures Commission (SFC) has published updated guidelines in connections with the application for authorization of unit trusts and mutual funds. The guide is aimed at providing „general guidance to firms in preparing their applications and their compliance with regulatory rules“ when applying for the authorization of a unit trust or mutual fund. It thereby covers issues such as the minimum disclosure ...
Inland Revenue Ordinance (Cap. 112) (Version Date: 15/12/2023)
ID 26512
A revised version of the Inland Revenue Ordinance was recently published on Hong Kong e-Legislation, the official journal of the city. The new version contains the changes made by the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 which provides for a tax exemption on gains from the sale of equity interest in Hong Kong enterprises provided that – ...
Filing Form for Notice of Scheme Change(s) falling within 11.1B of the Code on Unit ...
ID 26509
The Securities and Futures Commission of Hong Kong, SFC, has published a revised form in connection with modifications to a collective investment scheme (CIS). Specifically, the new form must be submitted to the SFC, if changes occur that are minor in nature and do not require the SFC’s prior approval in accordance with the Point 11.1B of the Code on Unit Trusts and Mutual ...
Information Checklist for Application for Authorization of Thai Funds under the ...
ID 26508
The Securities and Futures Commission of Hong Kong (SFC) has issued a revised version of its Information Checklist for Application for Authorization of Thai Funds under the Mutual Recognition of Funds Arrangement. The checklist which shall be used beginning on the application date outlined above MUST be submitted to the SFC along with the prescribed documents. The checklist contains or requires information on: (1) ...