New Public Fund Depositaries Regime

On September 30, 2024, the Securities and Futures Commission ("SFC") published updated codes and guidelines in connection with the implementation of the new Type 13 regulated activity ("Type 13 RA") regime governing public fund depositaries, which came into effect on October 2, 2024. If you'd like more information about public fund depositaries or SFC authorised collective investment schemes ("CIS") operating in Hong Kong, please contact one of our Fund lawyers.

To facilitate the transition, the SFC granted Type 13 RA licences or registrations to 19 depositaries that are part of major banking or insurance groups operating in Hong Kong, together with over 300 of their staff members, on October 2, 2024, having processed their applications in advance of the launch date.