SFC concludes consultation on new OFC Rules and OFC Code

The Securities and Futures Commission (SFC) today released consultation conclusions on the proposed Securities and Futures (Open-ended Fund Companies) Rules (OFC Rules) and Code on Open-ended Fund Companies (OFC Code) which set out detailed legal and regulatory requirements for the new open-ended fund company (OFC) structure (Note 1). This will enable investment funds to be established in corporate form in Hong Kong, in addition to the current unit trust form.