The Securities and Futures Commission
(
SFC ) recently published updated FAQs in respect of the requirements
applicable to a Type 1 licensed corporation or registered
institution ( Type 1
custodian ) that
wishes to be appointed by a private open ended fund company
(
OFC ) as its custodian.
The clarifications are helpful and further boost the
attractiveness of using a private Hong Kong OFC as a hedge fund
vehicle, as it is now clear that a prime broker can act as a
custodian.
What documents are required for the appointment of an Type 1
custodian such as a prime broker?
For an application for the appointment of an Type 1 custodian,