Investment Funds

SFC publishes Guidance on Environmental, Social and Governance (“ESG”) Fund Disclosures

SFC publishes Guidance on Environmental, Social and Governance (“ESG”) Fund Disclosures 1402 790 Louise
On 29 June 2021, the Securities and Futures Commission published the “Circular to management companies of SFC-authorized unit trusts and mutual funds – ESG funds”.

HKMA’s Guideline on Certification of Funds for Carried Interest Tax Concession

HKMA’s Guideline on Certification of Funds for Carried Interest Tax Concession 1400 788 Louise
The Hong Kong Monetary Authority on 16 July 2021 issued a Guideline on Fund Certification for Carried Interest Tax Concession under Schedule 16D to the Inland Revenue Ordinance (Cap. 112).

Bills for re-domiciliation of foreign investment funds gazetted

Bills for re-domiciliation of foreign investment funds gazetted 1400 788 Charing
On 2 July 2021, the Government gazetted the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021  (collectively, the “Bills”).  The Bills sets out the respectively scheme for foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (“OFC”) or limited partnership funds (“LPFs”).

Financial Services and Treasury Bureau’s Proposal on Tax Concession for Carried Interest

Financial Services and Treasury Bureau’s Proposal on Tax Concession for Carried Interest 1920 1080 Louise
In December 2020, the Financial Services and the Treasury Bureau of the Government of HKSAR published the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Bill 2021 in the Gazette.

SFC’s Consultation Paper on amendments to the Code on Pooled Retirement Funds

SFC’s Consultation Paper on amendments to the Code on Pooled Retirement Funds 1400 788 Charing
The comment period of the Securities and Future Commission’s (“SFC”) public consultation paper (the “Consultation”) on proposed amendments to the Code on Pooled Retirement Funds (the “Code”) has recently come to an end.

SFC consults on the Management and Disclosure of Climate-related Risks by Fund Managers

SFC consults on the Management and Disclosure of Climate-related Risks by Fund Managers 1400 787 Louise
In October 2020, the SFC published a consultation paper on the Management and Disclosure of Climate-related Risks by Fund Managers proposing to amend the Fund Manager Code of Conduct.

Hong Kong & APEC Sign MOU to Establish APEC SELI Sub-fund

Hong Kong & APEC Sign MOU to Establish APEC SELI Sub-fund 1401 788 Louise
SELI sub-fund under the APEC Economic Committee will provide funding for capacity building work to assist economies to strengthen economic and legal infrastructure.

2021-22 Budget Speech – Update on Open-ended Fund Companies and Limited Partnership Funds

2021-22 Budget Speech – Update on Open-ended Fund Companies and Limited Partnership Funds 1400 789 Charing
The Financial Secretary announced legislative proposal to allow foreign investment funds to re-domicile to Hong Kong for registration as OFCs or LPFs and planned incentives in the form of subsidies for OFCs set or re-domiciled to Hong Kong.

Mutual Recognition of Funds between Thailand and Hong Kong

Mutual Recognition of Funds between Thailand and Hong Kong 1400 788 Louise
On 20 Jan 2021, SFC & SEC entered into MoU to allow eligible Hong Kong and Thai public funds to be distributed in each other’s markets through streamlined process

SFC Warns Private Equity Firms on Hong Kong Licensing

SFC Warns Private Equity Firms on Hong Kong Licensing 1400 788 Hauzen

It has been nearly two decades since commencement of the current Securities and Futures Commission (SFC) licensing regime. The relevant legislation, the Securities and Futures Ordinance, originally specified nine types…

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