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The Securities and Futures Commission (SFC) today began a one-month consultation on proposals to amend the Code on Unit Trusts and Mutual Funds.
The proposals give collective investment schemes greater flexibility in determining the means for making public their offer and redemption prices, net asset values (NAVs) and notices of dealing suspension. More frequent dissemination of prices and NAVs would also be required.
The proposals take into account recent developments in information technology and existing market practices as well as regulatory requirements in major overseas markets.
"We continually fine-tune our standards and practices and in this particular case we took note of the fact that members of the public now access information through a wide variety of channels," said the SFC’s Chief Executive Officer, Mr Ashley Alder.
The public is invited to submit their comments to the SFC on or before 23 July 2014. Written comments may be sent on line via the SFC site (www.sfc.hk), by email to navconsultation@sfc.hk, by post or by fax to 2877 0318.
