Hong Kong: New developments from the SFC for the Open-ended Fund Company...
Hong Kong: New developments from the SFC for the Open-ended Fund Company regime relating to customer due diligence and custodial requirements
Hong Kong's Securities and Futures Commission (SFC) published a number of developments to its open-ended fund companies (OFC) regime in the last few weeks of 2020. On 23 December 2020, the SFC released both its conclusions ("Conclusions") on the customer due diligence (CDD) requirements for OFC consultations and updated frequently asked questions (FAQ) relating to OFCs to clarify custodial requirements.
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In brief
Hong Kong’s Securities and Futures Commission (SFC) published a number of developments to its open-ended fund companies (OFC) regime in the last few weeks of 2020. On 23 December 2020, the SFC released both its conclusions (“Conclusions”) on the customer due diligence (CDD) requirements for OFC consultations and updated frequently asked questions (FAQ) relating to OFCs to clarify custodial requirements.