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ARTICLE · 28 JANUARY 2019

Amendments To The Code On Unit Trusts And Mutual Funds

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The revised UT Code came into effect on 1 January 2019, with a 12-month transition period for compliance by funds currently registered with the SFC.

United StatesFinance and Banking
Anne-Marie Godfrey
Anne-Marie Godfrey
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Key Points

  • The revised UT Code came into effect on 1 January 2019, with a 12-month transition period for compliance by funds currently registered with the SFC.
  • Revised regulatory standards will impact all SFC-authorised funds and the fund managers of SFC-authorised funds.
  • The updates to the registered fund regime in Hong Kong should broaden the variety of registered investment products available to the Hong Kong public and should significantly increase the number of ETFs registered in Hong Kong.

Introduction

On 6 December 2018, the Securities and Futures Commission (SFC) released its consultation conclusions on proposed amendments to the Code on Unit Trusts and Mutual Funds (“UT Code”) (the “Consultation Conclusions”). The purpose of the revisions was to update the regulatory regime for SFC-authorised funds and address risks posed by financial innovation and other market developments. The Consultation Conclusions follow the Consultation Paper on

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