With the changes to the professional investor regime, the regime governing selling and marketing and distribution of fund products in Hong Kong have become more and more stringent. This course will provide the latest update on the offers of funds regime in Hong Kong under the Securities and Futures Ordinance and under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (C(WUMP)O) of Hong Kong.
Highlights of the course include:
- Overview of regulatory framework for offers / sales of investment under the SFO and the C(WUMP)O
- Product disclosure:
- Definitions explored
- What types of advertisement – invitation or documents not authorized by the SFC are permissible under Part IV?
- Conduct regulation
- Code of Conduct – suitability requirements
- Licensing requirement: when will an SFC license be required for promoting / selling funds?
- Exemptions under the Seventeenth Schedule to the C(WUMP)O
- Current professional investor regime – private placement activities
- Professional investor regime requirements
- Corporate vs. individual PIs
- Suitability assessment criteria