New regulatory regime for trustees and custodians of Hong Kong public funds (October 2019)
Client Briefings
Introduction
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Trustees and custodians of public funds (i.e. funds authorised by the Securities and Futures Commission (SFC) for retail distribution) in Hong Kong are currently not required to be licensed by the SFC and are not subject to any direct on-going regulatory supervision. As part of Hong Kong's asset management strategy to enhance the safe custody regime for public funds, the SFC proposes to regulate intermediaries acting as a trustee or custodian of public funds by introducing a Type 13 regulated activity.
