Communications From Collective Investment Schemes Authorized In Hong Kong: A Snapshot Of SFC Proposals
Mondaq Business Briefing › Hong Kong Law Articles in English (2008)
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Communications From Collective Investment Schemes Authorized In Hong Kong: A Snapshot Of SFC Proposals
Proposed changes will reduce regulatory burdens by dispensing with pre-vetting by the SFC of a wide range of notices and advertisements issued by collective investment schemes authorized by the SFC. At the same time, they will harmonize requirements for advertisements. However, the changes introduce now complexity into the regulatory regime and shift greater responsibility and liability on the issuers of such notices and advertisements.
On January 29, 2008, the Securities and Futures Commission ("SFC") proposed changes to the regulatory regime for notices and advertisements issued by collective investment schemes ("authorized schemes") authorized by the SFC. The changes are intended to harmonize and simplify requirements for advertisements for, and other communications with investors in, unit trusts, mutual funds, Mandatory Provident Fund ("MPF") schemes, investment linked assurance schemes and pooled retirement funds. These are laudable objectives. However, the manner in which some of these change...See the full content of this document
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