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ARTICLE · 10 MAY 2010

SFC Takes Tough Line On Structured Product Reform

King & Wood Mallesons
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Hong Kong’s Securities and Futures Commission (SFC) has issued its much anticipated final word on how structured products are to be regulated going forward, declining to accept the submissions made by industry participants on many key issues. The removal of the minimum denomination HK$500,000 safe harbour will have a significant affect on the offering of structured products in Hong Kong.

Hong KongConsumer Protection
Richard Mazzochi
Richard Mazzochi
Minny Siu
Minny Siu

Hong Kong's Securities and Futures Commission (SFC) has issued its much anticipated final word on how structured products are to be regulated going forward, declining to accept the submissions made by industry participants on many key issues. The removal of the minimum denomination HK$500,000 safe harbour will have a significant affect on the offering of structured products in Hong Kong.

Background

The SFC issued its "Consultation Conclusions on Possible Reforms to the Prospectus Regime in the Companies Ordinance and the Offers of Investments Regime in the Securities and Futures Ordinance" (Conclusions) on Friday evening, 23 April 2010. The Conclusions follow a consultation paper issued in October 2009 and several months of consultation with industry participants.

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