On October 27, 2025, the Securities and Futures Commission ("SFC") and the Autorité des marchés financiers ("AMF") of Québec, Canada, signed a Memorandum of Understanding ("MoU") to enhance regulatory cooperation on cross-border investment management. This agreement provides a framework for consultation, cooperation, and information exchange. It includes Québec on the SFC's list of acceptable inspection regimes, facilitating AMF-licensed managers to provide investment services in Hong Kong.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
Tax Exemption for Open-Ended Fund Companies
Hong Kong’s new open-ended fund companies (“OFCs”) can qualify for exemption from profits tax in a number of ways including through the offshore funds tax exemp
Hong Kong: Regulatory Developments Picking Up Pace
This article sheds light on a number of regulatory developments since the 2014 edition of the IFC Review, in particular, consultations on the Professional Inves
SPOTLIGHT ON
FAMILY OFFICES
On October 27, 2025, the Securities and Futures Commission ("SFC") and the Autorité des marchés financiers ("AMF"), the financial regulator of Québec, Canada, signed a Memorandum of Understanding ("MoU") to foster enhanced cooperation on the supervision of investment managers involved in collective investment schemes operating in either market. The signing took place on the margins of the International Organization of Securities Commissions ("IOSCO") Board Meeting in Madrid, Spain.
The MoU establishes a regulatory framework for consultation, cooperation, and information exchange between the SFC and the AMF, focusing on the oversight of cross-border investment management services. This collaboration includes the addition of Québec to the SFC's list of Acceptable Inspection Regimes, facilitating AMF-licensed managers to provide investment services in respect of SFC-authorised funds.
Ms Julia Leung, SFC's Chief Executive Officer, noted that the MoU signifies a new chapter in regulatory collaboration between the SFC and the AMF, particularly in the domain of asset management. This closer cooperation benefits both Hong Kong and Québec by promoting cross-market industry collaboration and market connectivity.
Mr Yves Ouellet, AMF's President and CEO, highlighted the shared commitment to fostering robust and transparent regulatory standards. The MoU strengthens cooperation between Québec and Hong Kong, enabling asset managers to access new opportunities, better serve investors, and support innovation, integrity, and resilience in their capital markets.
The SFC's agreement with the AMF complements an existing MoU between the SFC and the Ontario Securities Commission ("OSC"). Any Canadian securities regulator may join this arrangement by signing a counterpart MoU and adhering to the Main MoU, which remains a bilateral agreement between each Canadian regulator and the SFC.
As per Note 5.1 of the Code on Unit Trusts and Mutual Funds, the management company or the investment delegate for a scheme must be licensed or registered in Hong Kong or based in a jurisdiction with an inspection regime acceptable to the SFC.
In Madrid on October 27, 2025, Ms Julia Leung, Executive Director of Investment Products, Ms Christina Choi, and Senior Director and Head of International Affairs and Sustainable Finance, Ms Christine Kung, from the SFC met with AMF’s President and CEO, Mr Yves Ouellet, to finalize this strategic partnership.
View the full article:Source
