Fund firms seen unprepared for new HK code of conduct
Higher disclosure standards come into effect this month. Many fund managers, especially smaller ones, are unlikely to be fully compliant from the get-go, say legal and regulatory experts.
A new fund manager code of conduct (FMCC) comes into effect in Hong Kong this month, but many managers could be ill-prepared for it, say regulatory and legal experts.
The exhaustive list of regulatory requirements, which come into effect on November 17, will apply to all intermediaries licenced to carry out type 9 (asset management) registered activities in Hong Kong. Set to be introduced by the city's Securities and Futures Commission (SFC), they will have significant repercussio…
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