Hong Kong's Securities And Futures Commission Hosts Mainland-Hong Kong Mutual Recognition Of Funds Symposium

The Securities and Futures Commission (SFC) today hosted the Mainland-Hong Kong Mutual Recognition of Funds (MRF) Symposium to provide the industry with further regulatory information about this landmark scheme (Note 1).

"Our priorities right now are the smooth implementation of the scheme through close collaboration with our Mainland counterparts," said Mr Ashley Alder, the SFC's Chief Executive Officer.

"Mutual recognition will broaden cross-border investment channels and enhance the competitiveness of both the Hong Kong and Mainland fund markets. But its significance goes far beyond this, as it will in the long run transform Hong Kong into a leading asset management centre in the Asia Pacific," he added. 

The half-day event was attended by over 500 representatives from the fund management industry as well as industry associations, regulatory bodies, chambers of commerce and foreign consulates. Senior executives from the SFC, the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange spoke at the event and answered questions from the audience.

In addition, Ms Julia Leung, SFC Executive Director, Investment Products, moderated a panel discussion with industry representatives on the opportunities and challenges presented by the MRF scheme.

End

Notes:

1. On 22 May 2015, the CSRC and the SFC signed a Memorandum of Regulatory Cooperation on Mainland-Hong Kong Mutual Recognition of Funds. The scheme allows eligible Mainland and Hong Kong funds to be distributed in each other’s market through a streamlined vetting process which took effect on 1 July. See thepress release issued by the SFC on 22 May 2015 for more information.
2. Photos of the event are attached below.