On 6 February 2020, the Hong Kong Securities and Futures Commission (SFC) issued an updated “List of recognised jurisdiction schemes”, “List of inspection regimes”, “Application of the Code on Unit Trusts and Mutual Funds on UCITS funds” guidance notice and related FAQ.
The updates reflect that UK domiciled collective investment schemes will no longer be classified as UCITS but rather as “UK UCITS” following Brexit and the transition period.
The application procedure in Hong Kong for UK collective investment schemes classified as UK UCITS remains unchanged. It continues to follow either the “Mutual recognition of funds (MRF) between the United Kingdom and Hong Kong” dated 8 October 2018 — or the streamlined process for UCITS funds, which also applies to UCITS domiciled in Germany, France, Luxembourg and the Netherlands.
Links to the updated documents can be found here:
Please feel free to contact us if you require any additional information.
Please note that any information provided is general in nature, is based on the latest publicly available information as analyzed on a best endeavor basis and does not constitute any specific legal opinion or advice.
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