Regulatory Alerts2011-05-11
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Circular on SFC press release - legislative amendment on structured products to take effect
The Hong Kong Monetary Authority informed authorized institutions that the Securities and Futures and Companies Legislation (Structured Products Amendment) Ordinance 2011 will take effect on 13 May 2011. This amendment requires the Securities and Futures Commission to authorize advertisements and offer documents for structured products, while removing existing safe harbours for structured products in the form of shares and debentures. Authorized institutions are instructed to implement adequate controls and procedures to ensure compliance with these new regulatory requirements.
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