Originally published 9 June 2010
Keywords: marketing investment products, Hong Kong, monetary authority, Securities and Futures Commission, SIP, UT Code, ILAS Code
Following an extensive public consultation process, the Securities and Futures Commission has published its Consultation Conclusions on Proposals to Enhance Protection for the Investing Public and the final form of the SFC Handbook for Unit Trusts and Mutual Funds (which contains the "UT Code"), Investment-Linked Assurance Schemes (the "ILAS Code") and Unlisted Structured Investment Products (the "SIP Code").
The Hong Kong Monetary Authority has also issued a circular to authorised institutions on Implementation of Pre-investment Cooling-off Period for Retail Customers.
Financial institutions will need to take a number of steps to comply with the enhanced regulatory requirements. This is the most significant change to regulation of investment products in Hong Kong since the introduction of the Securities and Futures Ordinance in 2003.
Get the Full Updates:
1. Overarching Principles and SIP Code
Learn more about our Hong Kong office, Banking & Finance, Capital Market, Investment Funds and Financial Services Regulatory & Enforcement practices
Visit us at www.mayerbrown.com
Copyright 2010. JSM, Mayer Brown International LLP and/or Mayer Brown LLP. All rights reserved. Mayer Brown is a global legal services organization comprising legal practices that are separate entities ("Mayer Brown Practices"). The Mayer Brown Practices are: JSM, a Hong Kong partnership, and its associated entities in Asia; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales; and Mayer Brown LLP, a limited liability partnership established in the United States. The Mayer Brown Practices are known as Mayer Brown JSM in Asia.
This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein. Please also read the JSM legal publications Disclaimer.
