From 2 October 2024, trustees and custodians of collective investment schemes (CIS) operating in Hong Kong and authorised by the Securities and Futures Commission (SFC) for retail distribution must be licenced or registered to carry on the new Type 13 regulated activity (RA13) of “providing depository services for
In the latest in our series of Global Regulation Tomorrow podcasts focusing on the future of asset management regulation in the UK, Claire Guilbert, Uzmah Yunis and Anita Edwards discuss the key practical points firms should be considering following the Financial Conduct Authority’s recent consultation on implementing the Overseas Funds Regime and subsequent developments.
Listen
On 4 November 2021, the Investment Association published version 3.0 of its model discretional investment management agreement, in co-operation with Norton Rose Fulbright. The model agreement is a template agreement relating to the appointment of a discretionary investment manager by a client that has been categorised by the manager as a professional client. The
On 4 October 2019, the Securities and Futures Commission (SFC) published the pro forma terms and conditions (the Terms and Conditions) applicable to licensed corporations managing a fund (or portion of a fund) that invests in virtual assets and meet the de minimis threshold [1] (Virtual Assets Fund Manager) .
The latest issue of Global Asset Management Quarterly is now available here.
In this issue we cover:
An investigation by Hong Kong’s Securities and Futures Commission (SFC) has led to the halt and unwinding of an initial coin offering (ICO) by Black Cell Technology Limited (Black Cell) to the Hong Kong public on the basis that Black Cell potentially engaged in unauthorized promotional and unlicensed regulated activities.
Black Cell promoted the token
On 5 January 2018, the Hong Kong Monetary Authority (HKMA) issued a circular setting out guidance relating to the implementation of changes to the paragraphs of the Code of Conduct for Persons Licensed by or Registered with the SFC (Code) relating to: (i) ‘Disclosure of monetary and non-monetary benefits’ (paragraph 8.3), and (ii) ‘Independence’ (paragraph
The Securities and Futures Commission (SFC) recently issued two circulars to licensed corporations engaged in asset management business. The circulars were issued following routine inspection by the SFC of corporations licensed for such activity.
The first circular was issued by the SFC on 31 July 2017
In an effort to strengthen Hong Kong’s status as a leading asset management centre, on 23 November 2016 the Securities and Futures Commission (SFC) launched a three-month consultation into proposals to amend the Fund Manager Code of Conduct (FMCC) and the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures
On 17 June 2016, the Securities and Futures Commission (SFC) published an updated set of Frequently Asked Questions on “Offers of Investments” under the Securities and Futures Ordinance (FAQs).
The FAQs now include a new Appendix 1 which provides guidance on collective investment schemes involving interests in real property, as well as updated answers to