The Hong Kong Securities and Futures Commission and the Accounting and Financial Reporting Council have signed a new memorandum of understanding that extends their cooperation beyond the financial reporting and audit work of listed entities. The expanded framework covers licensed corporations, SFC licensed virtual asset service providers, SFC authorized funds and registered open ended fund companies, including their financial and compliance reporting and related audit and assurance work. The agreement provides for information sharing, case referrals, mutual assistance and coordinated inspections or investigations. It also establishes arrangements for allocating lead responsibility where the regulators’ remits overlap, coordinating concurrent enforcement actions and avoiding unnecessary duplication. The memorandum supersedes their 2021 agreement and operates subject to each authority’s statutory powers and applicable confidentiality requirements.
2026-09-28Hong Kong Securities & Futures Commission
Hong Kong Securities and Futures Commission and Accounting and Financial Reporting Council expand cooperation on financial reporting and audit oversight
The Hong Kong Securities and Futures Commission and the Accounting and Financial Reporting Council have expanded their cooperation on financial reporting, compliance reporting and related audit work. The framework now covers licensed corporations, virtual asset service providers, authorized funds and registered open ended fund companies, and supports information sharing, referrals and coordinated regulatory action.