Publications & Events |
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Latest Publications & Events |
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Results 1-5 of 7 (154KB) for +mutual with 7 total matches
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New Proposals to Regulate Mis-Selling of Investment Funds & Structured Products in Hong Kong: Right or Wrong? |
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The recent global financial crisis has resulted in an upswing in regulatory action throughout world markets. In Hong Kong, the Securities and Futures Commission (SFC) has proposed a slew of new requirements, some of which have already been implemented retroactively and without industry consultation. In this article we examine these ongoing developments in SFC policy and their effectiveness in reaching a fair balance between investor protection and costs to the investor and the financial industry.
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"Communications from Collective Investment Schemes Authorized in Hong Kong: A Snapshot of SFC Proposals |
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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.
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"Launching Innovative Retail Investment Funds in Hong Kong without SFC Authorization |
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It is commonly believed that an asset manager who wishes to offer an investment fund to the investing public in Hong Kong must seek authorization from the SFC. In this article, we challenge this belief and explore a possible new approach that may avoid SFC authorization altogether and open up new possibilities for asset managers to offer innovative investment funds that fall outside categories recognized by the SFC.
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Hong Kong: The Investment Fund Industry's Gateway to China |
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The QDII scheme enables PRC persons to invest in overseas financial products through QDII funds established by PRC banks and fund management companies. Limited in the types of investments which they can make, QDII funds may use SFC authorized funds to obtain global exposure. With applications to subscribe for 4 QDII investment funds reaching US$37 billion in September and October, 2007 alone, global investment managers should not ignore the possibility of establishing an SFC authorized fund platform to access the growing PRC market.
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Non-Hong Kong Investment Funds: Relaxation of SFC Authorization Practices |
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This article looks at recent developments which suggest a relaxation of SFC authorization requirements for collective investment schemes based outside of Hong Kong. First, the SFC has expanded the ability of managers of authorized schemes to delegate their investment management functions to sub-managers in jurisdictions previously considered to be generally unacceptable. Secondly, the SFC appears to have softened its policy of insisting that investment management agreements and custodian agreements preserve the jurisdiction of the Hong Kong courts.
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