INTERNATIONAL: AMF and SFC Sign MoU on France-Hong Kong Mutual Recognition of Funds

Tuesday July 25 2017

The Autorité des Marchés Financiers (AMF) and the Securities and Futures Commission (SFC) have signed a Memorandum of Understanding (MoU) on France-Hong Kong Mutual Recognition of Funds (MRF), which will allow eligible French UCITS funds and Hong Kong public funds to be distributed to retail investors in each other’s market through a streamlined authorization process.

The MoU is the first agreement between a member of the European Union and Hong Kong which establishes the regulatory framework for distribution of eligible French and Hong Kong funds, which currently include general equity funds, bond funds and mixed funds.

It also stipulates a mechanism for regular dialogue and regulatory cooperation thus enabling the AMF and the SFC to fulfil their respective supervisory and regulatory mandates.

Further details of the Mutual Recognition of Funds arrangement are set out in the “AMF requirements and process for mutual recognition of Hong Kong Funds” and the “SFC circular”.

 Click on the link above for further information.