The Securities and Futures Commission has proposed legislative and code amendments to introduce a new regulatory regime, Type 13 regulated activity (RA 13), for depositaries of SFC-authorised collective investment schemes. The legislative amendments have been gazetted, and the new regime will come into effect on October 2, 2024. The SFC plans to provide guidance on the licensing process to help depositaries transition to the new regime and launch electronic licensing forms for RA 13 in the third quarter of 2023. The new regulatory regime aims to develop Hong Kong as an international asset management center and provide more protection for retail investors.
resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR24