Summary of Amendments to the Revised Guidelines on Compliance Function for Fund Management Companies

1  Summary of Amendments on the Revised Guidelines on Compliance Function for Fund Management Companies (Issued: 4 May 2020) The following table provides a summary of key amendments to the Guidelines on Compliance Function for Fund Management Companies which was revised on 4 May 2020: General amendments

1. Consequential amendments pursuant to the issuance of Guidelines on Advertising for Capital Market Products and Related Services. Amendments to specific paragraphs Prior to 4 May 2020 Issued on 4 May 2020 Comments Chapter 4 : Key Responsibilities

• Paragraph 4.02(s) Existing requirement repositioned from Chapter 8, paragraph 8.01
• Paragraph 4.02(t) Existing requirement repositioned from Chapter 8, paragraph 8.02
• Paragraph 4.04(t) Existing requirement repositioned from Chapter 8, paragraph 8.04, 8.05 and 8.06
• Paragraph 4.04(s) Existing requirement repositioned from Chapter 8, paragraph 8.09 Chapter 8 : Marketing, Advertising and Promotional Materials
• Paragraph 8.01 Existing requirement repositioned to Chapter 4, paragraph 4.02(s)
• Paragraph 8.02 Existing requirement repositioned to Chapter 4, paragraph 4.02(t)

2  Amendments to specific paragraphs Prior to 4 May 2020 Issued on 4 May 2020 Comments

• Paragraph 8.03 Disapplication following issuance of Guidelines on Advertising for Capital Market Products and Related Services
• Paragraph 8.04 Existing requirement repositioned to Chapter 4, paragraph 4.04(t)
• Paragraph 8.05 Existing requirement repositioned to Chapter 4, paragraph 4.04(t)
• Paragraph 8.06 Existing requirement repositioned to Chapter 4, paragraph 4.04(t)
• Paragraph 8.07 Disapplication following issuance of Guidelines on Advertising for Capital Market Products and Related Services
• Paragraph 8.08 Disapplication following issuance of Guidelines on Advertising for Capital Market Products and Related Services
• Paragraph 8.09 Existing requirement repositioned to Chapter 4, paragraph 4.04(s) Chapter 13 : Additional Requirements Relating to a Digital Investment Management Company Paragraph 13.05 Paragraph 13.05 Consequential amendment due to disapplication of Chapter 8