In November 2017 the SFC announced amendments to the Fund Manager Code of Conduct (FMCC) and the Code of Conduct of Persons Licensed by or Registered with the Securities and Futures Commission SFC (Code of Conduct). These amendments impact the ways in which funds are marketed, operated and also the ways in which asset managers are to conduct their roles. The changes will become effective in August and November of 2018 respectively. The following course will provide information on the changes and what managers and persons licensed or registered with the SFC need to do to comply.
Overview of the FMCC and Code of Conduct
- SFC Consultation Conclusions on Proposals to Enhance Management Regulation and Point-of-sale Transparency and Further Consultation on Proposed Disclosure Requirements Applicable to Discretionary Account
- Amendments to the FMCC, including:
- Expanded scope of application of FMCC
- Enhanced requirements for fund managers involved in lending, repos and reverse repos
- Additional requirements imposed on discretionary account managers
- Custody of fund assets
- Liquidity Risk Management
- Amendments to the Code of Conduct, including:
- Use of term independent and disclosure of independence
- Enhanced disclosure requirements
- Further consultation on disclosure requirements related to discretionary accounts
- Tips for compliance and actions to consider
To view our registration conditions please click HERE.