Regulatory Alerts2011-05-11
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Legislative amendment on structured products to take effect
The Securities and Futures Commission announced that the Securities and Futures and Companies Legislation (Structured Products Amendment) Ordinance 2011 will take effect on 13 May 2011. This amendment transfers the regulation of public offers of structured products from the Companies Ordinance to the Securities and Futures Ordinance, requiring SFC authorization for advertisements and offer documents unless exempted. Consequently, previous safe harbours under the Companies Ordinance are replaced by the exemptions provided in Section 103 of the Securities and Futures Ordinance.
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