In fulfilling our regulatory functions, we pledge to be responsive to the public, market participants, and the intermediaries under our supervision:
| Items | Performance pledge | |
|---|---|---|
| Applications for subordinated loan or modification/waiver of requirements under the Securities and Futures Ordinance | Commence review of application upon receipt |
2 business days |
| Authorisation/registration of investment products1 | Take-up of applications upon receipt | 5 or 2 business days2 |
| Preliminary response to applications after take-up for paper gold schemes, private open-ended fund companies, Thai domiciled funds under the Mutual Recognition of Funds between Thailand and Hong Kong (Thai-HK MRF) and Hong Kong-domiciled feeder funds each investing in a single Thai-domiciled master fund that meets the requirements under the Thai-HK MRF |
7 business days | |
| Response to applications after take-up for unit trusts and mutual funds processed under FASTrack3 | 10 business days | |
| Preliminary response to applications after take-up for other unit trusts and mutual funds and other products | 14 business days | |
| General enquiries | Preliminary replies | 5 business days |
| Processing of licensing applications | Corporations | 15 weeks |
| Representatives (provisional licences) | 7 business days | |
| Representatives (normal licences) | 8 weeks | |
| Representatives (responsible officers) | 10 weeks | |
| Transfer of accreditation | 7 business days | |
| Complaints against intermediaries and market activities | Preliminary response | 2 weeks |
| Applications and related documents under the Takeovers Code and Share Buy-backs Code | -- | Details |
1Compliance with our performance pledges is measured in relation to applications in respect of which all of the required documentation is supplied by the applicants in a comprehensive manner.
2The pledge of 5 business days is applicable to the authorisation of the following products:
- Unit trusts and mutual funds
- Mandatory provident fund products (including pooled investment funds)
- Pooled retirement funds
- Real estate investment trusts
- Investment-linked assurance schemes
The pledge of 2 business days is applicable to the authorisation of other products (which include paper gold schemes), and the registration of private open-ended fund companies.
3 Unit trusts and mutual funds processed under FASTrack refer to funds that are domiciled and regulated in jurisdictions which have MRF Arrangement with Hong Kong and meet the criteria set out in "Circular to applicants seeking SFC authorisation of unit trusts and mutual funds - Launch of a new Fund Authorisation Simple Track (FASTrack)" dated 21 October 2024, as amended from time to time.
Last update: 21 Oct 2024