In 2019, the Securities & Futures Commission of Hong Kong (SFC) launched a consultation on the introduction of a new regulated activity, Type 13, or RA 13, to put depositaries of SFC-authorized Collective Investment Schemes (CIS) under the SFC’s direct supervision.
Through the introduction of RA 13, the SFC proposes to bring Hong Kong in line with other jurisdictions by enforcing a licensing regime that will fundamentally and permanently affect the way in which trustees and custodians conduct business. From the second quarter of 2022, firms need to prioritize planning and begin conversations with the teams that will help implement the new requirements in readiness for the expected conclusion of the consultations in Q3.
This timeline sets out the key pillars of RA 13 and milestones from 2022 until the expected implementation deadline in 2024 – together with insights to support your forward planning.
Download the timeline, and for more information, please reach out to us at: firstname.lastname@example.org.