Clifford Chance
SFC consults on rules and code on open-ended fund companies
6 July 2017
About a year after the gazettal of the Securities and Futures (Amendment) Ordinance 2016 (Amendment Ordinance) which sets out the legal framework on the open-ended fund company (OFC) regime, the Securities and Futures Commission (SFC) commences its consultation on the detailed legal and regulatory requirements for the new OFC vehicles. The Financial Services and the Treasury Bureau conducted a public consultation on the proposed legal and regulatory framework to introduce an OFC structure in Hong Kong in March 2014. The consultation conclusions paper was published in January 2016 and set out the final proposals from the Government. In June 2016, the Amendment Ordinance was gazetted and introduced, amongst other things, a new Part IVA into the Securities and Futures Ordinance. On this basis, the SFC proposes to make the Securities and Futures (Open-ended Fund Companies) Rules and to issue a Code on Open-ended Fund Companies detailing the legal and regulatory requirements applicable to the new OFC structure.
Download File
SFC consults on rules and code on open-ended fund companies
