Regulatory Alerts2011-05-17
Added · Updated
SFC Circulars on Preparation for Full Implementation of the UT Code and ILAS Code
The Securities and Futures Commission issued circulars requiring fund managers and ILAS issuers to prepare Product Key Facts Statements and revised offering documents for schemes marketed on or after 25 June 2011. From this date, any existing scheme lacking these documents is prohibited from accepting subscriptions or premiums from new investors in Hong Kong. Authorized institutions acting as distributors must verify compliance with these disclosure requirements and ensure their sales staff receive adequate training before the implementation deadline.
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