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While retail funds must be authorized by the Securities and Futures Commission (“SFC”) before distribution in Hong Kong, the SFC has no authority to regulate private funds. Unable to touch these funds directly, the SFC has instead imposed new regulatory requirements on licensed asset managers, financial advisers and fund distributors. This article reviews amendments to the Code of Conduct for Persons Licensed by or Registered with the SFC, and the Fund Manager Code of Conduct, highlighting potential difficulties that intermediaries may face in ensuring compliance with the revised codes by August 17, 2018 and November 17, 2018 respectively.
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The January, 2020 SFC licensing circular suggests some activities undertaken by private equity firms may trigger SFC licensing obligations
The Securities and Futures Commission (“SFC”) and The Stock Exchange of Hong Kong Limited (“SEHK”) both shifted their enforcement strategies and...
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