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 Bipartisan Budget Act of 2015, as modified by the Protecting Americans from Tax Hikes Act of 2015, resulted in a fundamental change in the way the U.S. Internal Revenue Service (IRS) will conduct audits of collective...more
11/22/2017
/ Asia ,
Bipartisan Budget Act ,
Foreign Financial Institutions (FFI) ,
Fund Managers ,
Hedge Funds ,
Income Taxes ,
Investors ,
IRS ,
New Amendments ,
Partnerships ,
Private Equity Funds ,
Protecting Americans from Tax Hikes (PATH) Act ,
Tax Audits ,
Tax Liability ,
Tax Returns
• 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
Key Points -
- Clarification and new guidance relating to suitability obligations under the Code of Conduct.
- Outlines the regulatory obligations of licensed or registered persons....more
Introduction -
On May 22, 2015, the Hong Kong Securities and Futures Commission (“SFC”) and the China Securities Regulatory Commission (“CSRC”) issued a joint announcement on the decision to implement the Mainland-Hong...more
The Hong Kong Securities and Futures Commission (SFC) issued a consultation paper titled “Consultation Paper on the Proposed Amendments to the Professional Investor Regime and the Client Agreement Requirements on 15 May 2013”...more