SFC revamps rules for fast-track fund approvals

Hong Kong’s regulator is promising fund promoters a shorter time to market under a new two-speed fund authorisation programme. The Securities and Futures Commission (SFC) is calling the pilot scheme for fund applications a “revamped process” and is stressing that investor protection won't be compromised under the rules. The scheme is due to come into effect on November 9 for a six-month period, after which refinements may be made before the initiatives are adopted as policy. F…