SFC fast-tracks simple fund authorisation to bolster Hong Kong market appeal
The Securities and Futures Commission (SFC) will expedite the processing of applications from simple investment funds by launching the Fund Authorisation Simple Track (FASTrack) on 4 November 2024.
Under FASTrack, the SFC aims to grant fund authorisations within 15 business days after receiving complete and quality submissions from applicants. The new approach will cover simple funds from jurisdictions which have mutual recognition of funds (MRF) arrangements with the SFC.
As the regulatory regimes of MRF jurisdictions provide comparable investor protection to that of Hong Kong and the SFC has entered into cooperation arrangements with their home regulators, the SFC considers it appropriate to streamline the authorisation process of eligible funds. These include equity, bond and mixed funds, among others.
“As part of our dedication to deepen and broaden the capital market, FASTrack would be a boon for both asset managers and investors, as it will provide more clarity and certainty for fund launches in Hong Kong and also broaden product choices without compromising protection for investors,” said Ms Christina Choi, the SFC’s Executive Director of Investment Products. “This will also enhance the city’s appeal to overseas and Mainland funds, thus strengthening its competitiveness as a premier asset management hub.”
The SFC will monitor the operation of FASTrack during a six-month pilot period ending 4 May 2025 and refine it as appropriate before formal adoption. It also issued today a pamphlet setting out the new features and a circular explaining the new authorisation process.
中文版本
證監會加快簡單基金的認可流程以提升香港市場的吸引力
證券及期貨事務監察委員會（證監會）將於2024年11月4日推出基金認可簡易通道（基金簡易通），以加快處理簡單投資基金的申請。
在基金簡易通下，證監會的目標是在接獲申請人完整而具質素的資料後，於15個工作天內授予認可。新機制將涵蓋來自與證監會訂有基金互認安排的司法管轄區（該等MRF司法管轄區）的簡單基金。
該等MRF司法管轄區的監管制度所提供的投資者保障與香港相若，而且證監會與當地監管機構訂立了合作安排，因此證監會認為簡化合資格基金的認可流程做法適當。相關基金包括股票、債券及混合基金等。
證監會投資產品部執行董事蔡鳳儀女士表示：“基金簡易通是本會致力深化及擴大資本市場而推出的又一措施，可為在港推出的基金提供更加清晰明確的流程，同時在不削弱投資者保障的大前提下拓闊其產品選項，因此對資產管理公司及投資者均帶來裨益。此舉亦將提升香港對海外和內地基金的吸引力，因而加強其作為領先資產管理樞紐的競爭力。＂