The Hong Kong Securities & Futures Commission (SFC) has issued a circular introducing streamlined post-authorisation measures for authorised UCITS funds to implement scheme changes that comply with their home jurisdiction’s regulation. The measures take effect immediately and are expected to reduce by about 50% the number of scheme change applications UCITS funds submit to the SFC for approval. Under the streamlined approach, UCITS funds no longer need the SFC’s prior approval for changes to depositories and investment delegates that are supervised by the fund’s home regulator. SFC pre-approval is also no longer required for material changes in investment objectives, policies and restrictions that comply with home jurisdiction requirements, except where changes involve novel or complex product features or have local policy implications. The SFC has also aligned its notification requirements with those of the fund’s home jurisdiction and published updated FAQs to support implementation.
Hong Kong Securities & Futures Commission 2025-11-28
Hong Kong Securities & Futures Commission streamlines post-authorisation measures for authorised UCITS funds and removes key prior-approval requirements
The Hong Kong Securities & Futures Commission (SFC) has streamlined post-authorisation measures for authorised UCITS funds, reducing scheme change applications by about 50%. UCITS funds no longer need SFC pre-approval for certain changes if they comply with home jurisdiction regulations, except for novel or complex features. The SFC has aligned notification requirements with the fund's home jurisdiction and updated FAQs to aid implementation.