In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for March 2021.
On 28 April 2020, the Hong Kong Competition Commission (HKCC) and the Securities and Futures Commission (SFC) announced that they had signed a memorandum of understanding (MoU) to enhance collaboration and exchange of information, particularly in respect of competition issues in the securities and futures industry.
Last week, the Hong Kong Securities and Futures Commission (SFC) signed a tripartite memorandum of understanding (MOU) with the China Securities Regulatory Commission (CSRC) and the Ministry of Finance of the People’s Republic of China (MOF) regarding audit working papers in the Mainland arising from the audits of Hong Kong-listed Mainland companies.
Last week, the Securities and Futures Commission (SFC) of Hong Kong announced that it had signed a Memorandum of Understanding (MOU) with the Autorité des Marchés Financiers (AMF) of France on mutual recognition of funds (MRF) between Hong Kong and France.
The MOU allows eligible Hong Kong funds and French UCITS funds to be distributed to retail investors in France and the public in Hong Kong respectively, through a streamlined authorisation process. The types of funds currently covered are equity funds, bond funds and mixed funds.