SFC Consultation Conclusions introduce changes to the Fund Manager Code of Conduct and the Code of Conduct
The Securities and Futures Commission (the "SFC") issued its Consultation Conclusions on Proposals to Enhance Management Regulation and Point-of-sale Transparency and Further Consultation on Proposed Disclosure Requirements Applicable to Discretionary Account (the "Conclusions") on 16 November 2017. The Conclusions introduce changes to the Fund Manager Code of Conduct (the "FMCC") and the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the "Code of Conduct"). These changes will become effective on 17 November 2018 and 17 August 2018 respectively.
The SFC also initiated a further consultation on disclosure requirements applicable to discretionary accounts. Submissions on this further consultation should be made by 15 January 2018.
Read the full FRG Newsletter for November 2017