HK open-ended fund rules “too strict” in some areas

Private funds would likely shun Hong Kong's proposed structure for open-ended fund companies (OFCs) because the rules are too stringent in certain areas, said consultancy CompliancePlus in its submission to the local securities regulator. The company also argued for other amendments to the proposals for the long-awaited framework. These included that the watchdog should clearly set out the differences between the available fund structures and should offer a pledge on how long it w…