On November 28, 2025, the Securities and Futures Commission ("SFC") announced streamlined measures for UCITS funds to implement changes more efficiently. These measures include not needing prior SFC approval for changes to depositories and investment delegates, and material changes in investment objectives. The SFC estimates a 50% reduction in scheme change applications.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On November 28, 2025, the Securities and Futures Commission ("SFC") introduced streamlined post-authorisation measures for UCITS funds in a circular aimed at simplifying compliance with home jurisdiction regulations.
Following a comprehensive review and engagement with market participants, the SFC estimates that these measures will reduce scheme change applications from UCITS funds by approximately 50%.
Under the streamlined measures, the SFC will no longer require prior approval for changes to depositories and investment delegates supervised by the fund’s home regulator. Additionally, SFC approval is no longer necessary for material changes to investment objectives, policies, and restrictions that comply with home jurisdiction requirements. Furthermore, the SFC has aligned its notification requirements with those of the fund’s home jurisdiction.
Ms. Alexandra Yeong, Interim Head of Investment Products at the SFC, underscored the importance of these enhancements in strengthening Hong Kong’s position as a leading global asset management center. She highlighted that these changes will enable UCITS funds to operate more efficiently in Hong Kong’s dynamic market, while maintaining a commitment to investor protection.
To enhance industry understanding, the SFC has published updated FAQs on its website
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