The Securities and Futures Commission (SFC) published a Consultation Paper on Proposed Amendments to the Code on Units Trusts and Mutual Funds (Consultation Paper) on 18 December 2017 launching a three-month public consultation to invite comments from the public on its latest proposed amendments. The main areas of the proposed amendments in the Consultation Paper relate to (i) key operators; (ii) permitted investments; (iii) money market funds, unlisted index funds and index tracking exchange traded funds; (iv) listed open-ended funds; (v) close-ended funds, and (vi) UCITs funds. The proposals to amend provisions of the Code on Units Trusts and Mutual Funds reflect, amongst others, the regulatory regime for funds in other comparable overseas jurisdictions as well as recommendations by the Financial Stability Board and the International Organization of Securities Commissions.
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