The Securities and Futures Commission (SFC) announced updated codes and guidelines for the new Type 13 regulated activity (RA 13) regime for public fund depositaries, effective October 2, 2024. The SFC will grant RA 13 licenses to 19 depositaries and over 300 staff members from major banking and insurance groups in Hong Kong to facilitate the transition. This regime requires depositaries of SFC-authorized collective investment schemes to be licensed or registered, aiming to enhance regulation, align with international standards, and improve investor protection. The updated regulatory information is available on the SFC website.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR156
