The Hong Kong Securities and Futures Commission (SFC) recently released a circular outlining its views on how asset managers should address certain conflicts of interest between private funds and separately managed accounts...more
Recently, the Hong Kong Securities and Futures Commission (SFC) published a consultation paper on the Securities and Futures (Open-ended Fund Companies) Rules (Rules) and Code on Open-ended Fund Companies (Code) which, if...more
8/18/2017
/ Board of Directors ,
Business Formation ,
Corporate Dissolution ,
Corporate Management ,
Corporate Structures ,
Custodian of Records ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Investment Management ,
Open-Ended Fund Companies (OFCs) ,
Registration Requirement ,
SFO ,
Shareholder Rights
Following announcement of the proposed launch of a bond trading link between China and Hong Kong (Bond Connect) earlier this year, Bond Connect officially launched on July 3, 2017. Bond Connect allows foreign institutional...more
7/14/2017
/ Bond Connect ,
Bonds ,
China ,
CIBM ,
Debt Instruments ,
Eligibility ,
Foreign Investment ,
Fund Managers ,
Hong Kong ,
Institutional Investors ,
QFIIs ,
RQFII
The Securities and Futures Commission of Hong Kong (SFC) recently introduced the “Senior Management Accountability Regime” (regime), in an effort to make senior managers (particularly those who are not already designated as...more
A new program providing fund managers with access to China’s principal bond market officially opened for business in May 2016. The program – known as the China Interbank Bond Market (CIBM) program – greatly simplifies the...more
10/20/2016
/ Bond Markets ,
Bonds ,
China ,
CIBM ,
Financial Services Industry ,
Foreign Investment ,
Fund Managers ,
Institutional Investors ,
Licenses ,
PBOC ,
QFIIs ,
Registration Requirement ,
RQFII
The quota allocation – the first of its kind awarded to the United States – was announced on June 7, 2016 by Yi Gang, Deputy Governor of the People’s Bank of China, the country’s central bank. This represents an apparent...more
Despite a challenging environment for the hedge fund industry, many institutional investors continue to allocate to hedge funds in a market environment otherwise devoid of promising investment opportunities. While the hedge...more
Faced with redemptions and currency outflows from the country, Chinese regulators have taken welcome steps to make it easier for fund managers and other institutional investors to invest in China. Fund managers, in...more
The Monetary Authority of Singapore (MAS) continues to develop and strengthen its regulation of derivatives markets, most recently focusing its attention on the formulation and completion of a comprehensive reporting regime....more
1st Day of Christmas – UCITS V* -
The UCITS V Directive (UCITS V) introduces specific provisions on:
- (i) eligibility, liability and delegation of depositaries;
- (ii) remuneration policies;...more
12/23/2015
/ Accredited Investors ,
China ,
Derivatives ,
Dodd-Frank ,
ETFs ,
EU ,
European Securities and Markets Authority (ESMA) ,
FATCA ,
Foreign Ownership ,
Form D Filing ,
Fund Managers ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Hong Kong’s Financial Services Development Council (FSDC) ,
Liquidity Risk Management Rule ,
Mutual Funds ,
Open-Ended Fund Companies (OFCs) ,
Over The Counter Derivatives (OTC) ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
UCITS ,
UK
News of the volatile Chinese stock market has dominated international headlines over the past couple of months, and the spotlight has been on the Chinese authorities’ reaction to these developments. Their wide-reaching policy...more
The United States is proposing rules that, for the first time, would subject investment advisers registered or required to be registered (RIAs) with the U.S. Securities and Exchange Commission (SEC) under the Investment...more
The Central Bank of Ireland (“CBI”) issued an update to its Q&A documents on 15 July 2015 for both UCITS and AIFMD FAQ (“Q&A”) which clarifies how Irish funds can invest in Chinese shares via the Shanghai-Hong Kong Stock...more
Working Group Issues Consultation Paper -
The working group consisting of six participating countries (Singapore, Australia, South Korea, New Zealand, Thailand and the Philippines) in the Asia Region Funds Passport...more
Licensing Manual for Financial Investment Services Business -
The Financial Supervisory Service (“FSS”) announced a complete revision of the manual for licensing requirements and procedures for financial investment...more
Regulation of OTC Derivatives and Singapore Regulatory Reforms -
The Monetary Authority of Singapore (“MAS”) published a consultation paper on the proposed amendments to the Securities and Futures Act (the “SFA”) which...more
Market participants were unsure what to expect when “Stock Connect” launched the morning of Monday, November 17, 2014.1 The program, sometimes called the Shanghai-Hong Kong “through-train”, provides a trading link between the...more
Regulators in Hong Kong and China recently announced the imminent launch of “Stock Connect” on next Monday, November 17, 2014. Stock Connect gives a wide array of fund managers, private investors, and other market...more
The Shanghai-Hong Kong Stock Connect program, expected to launch this fall, will give many European and U.S. funds, managers and individuals their first opportunity to trade Shanghai-listed equities. Stock Connect represents...more
With deadlines looming, Hong Kong’s government announced on May 9th a much-anticipated agreement with the United States regarding the U.S. Foreign Account Tax Compliance Act (FATCA). Without this intergovernmental agreement...more
Prior to 2013, the door to the People’s Republic of China’s domestic mutual fund market was closed to outsiders. Foreign fund managers had only one choice: to team up with local Chinese managers in joint ventures, controlled...more
Dodd-Frank upended the status quo of the global OTC derivatives markets, imposing a host of clearing, margin and other requirements on market participants. But as these reforms began to take effect in the United States in the...more
For years, the Chinese private fund industry has operated in regulatory limbo, but a recent series of legislative and regulatory actions should provide greater certainty and help create a more favorable environment for the...more
The Division of Investment Management (Division) of the U.S. Securities and Exchange Commission (SEC) recently posted an IM Guidance Update that expands the applicability of an exception from the Custody Rule (as defined...more
The U.S. Department of the Treasury (“Treasury”) and the U.S. Internal Revenue Service (“IRS”) released final regulations (“Regulations”) on January 17, 2013 implementing the Foreign Account Tax Compliance Act (“FATCA”).1...more