The COVID-19 pandemic has caused significant disruptions to numerous industries and sectors on a worldwide scale in an unprecedented manner. The asset management industry, like so many other business sectors, has proven far...more
In recent years, the Hong Kong Securities and Futures Commission (SFC) has increasingly focused on private equity funds’ obligation to be licensed under the Securities and Futures Ordinance (SFO). In February 2019, the SFC’s...more
The U.S. National Futures Association (NFA) has confirmed that it has commenced its first-ever, on-site inspection program of NFA member firms located in Hong Kong. Prior to this current initiative, the NFA’s inspections of...more
7/12/2018
/ Asset Management ,
Audits ,
CFTC ,
Commodities Traders ,
Commodity Broker ,
Commodity Pool ,
Cryptocurrency ,
Hong Kong ,
Inspections ,
Investment Management ,
National Futures Association
• The introduction of an OFC structure in Hong Kong is intended to further develop Hong Kong as an international asset management centre and fund domicile.
• The OFC provides Hong Kong Type 9 licenced managers seeking to...more
7/10/2018
/ Applications ,
Asset Management ,
China Securities Regulatory Commission (CSRC) ,
Collective Investment Schemes ,
Disclosure Requirements ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Incorporation ,
Investment Funds ,
Investment Management ,
Offering Documents ,
Open-Ended Fund Companies (OFCs) ,
Regulatory Oversight ,
Required Documentation ,
Shareholders ,
Tax Exemptions
• The SFC has identified nine common areas of non-compliance in managing funds and discretionary accounts.
• The SFC urged licensed corporations to review their existing internal control procedures and operational...more
10/27/2017
/ Allocation of Funds ,
Anti-Deficiency Provisions ,
Asset Management ,
Asset Protection ,
Asset Valuations ,
Brokers ,
Conflicts of Interest ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Internal Controls ,
Investment Funds ,
Investors ,
Liquidity Risk Management Rule ,
Policies and Procedures ,
Private Funds ,
Receipt of Funds ,
SFO ,
Solicitation ,
Suitability Requirements
•The Commission has identified a number of regulatory concerns with respect to private funds and discretionary accounts, in particular, funds with concentrated, illiquid and interconnected investments.
•The Commission has...more
8/18/2017
/ Asset Management ,
Best Practices ,
Code of Conduct ,
Conflicts of Interest ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Funds ,
Investor Protection ,
New Circular ,
Private Funds ,
Risk Management ,
Senior Managers ,
SFC
Key Points -
- Amended Hong Kong Securities and Futures Ordinance expands existing type 9 Regulated Activity (Asset Management) to cover management of OTC derivative products.
- A Type 9 licenseholder managing...more
The Hong Kong Securities and Futures Commission (the “SFC”) issued a consultation paper titled “Consultation Paper on the Proposed Amendments to the Professional Investor Regime and the Client Agreement Requirements” on 15...more
Under the current legal and regulatory regime relating to the establishment of investment funds in Hong Kong, an open-ended investment fund in Hong Kong can only take the form of a unit trust. This is mainly due to the...more