Circular to Management Companies of SFC-authorised Unit Trusts and Mutual Funds – Updated Guidance on Streamlined Measures for SFC-authorised Funds

The Securities and Futures Commission (SFC) has updated its guidance to improve operational efficiency and approval processes for SFC-authorised funds. The updated guidance includes streamlined measures for appointment of investment delegates, UCITS1 funds, post-authorisation notifications, derivative investments, and disclosure guidance.

The new guidance classifies applications for appointing new investment delegates as “standard applications” or “simple applications,” removing the SFC’s prior approval requirement for a fund’s appointment of an investment delegate managing other SFC-authorised funds. It also simplifies reporting requirements for pricing errors of UCITS1 funds with no Hong Kong investors during affected periods.

Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/doc?refNo=23EC64

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