SFC Revised Advertising Guidelines And Enhanced Disclosure Requirements

The second half of 2008 saw revised advertising guidelines (Guidelines) and enhanced disclosure requirements (Enhanced Disclosure Requirements) being introduced by the Hong Kong Securities and Futures Commission (SFC).

Issuers (Issuers) of SFC-authorised collective investment schemes (CIS) and all of the advertising materials for their CIS were required to comply with these guidelines and requirements from 1 January 2009. However, having regard to industry concerns over difficulties with compliance, the SFC announced on 30 December 2008 that it would administratively adopt a phased approach in implementing these guidelines and requirements. This review provides a snapshot of this approach and an overview of the Guidelines and the Enhanced Disclosure Requirements.