The Securities and Futures Commission (SFC) will launch the Fund Authorisation Simple Track (FASTrack) on November 4, 2024, to expedite the processing of applications for simple investment funds. Under FASTrack, the SFC aims to authorize funds within 15 business days, focusing on jurisdictions with mutual recognition of funds arrangements. This streamlined process is intended to enhance Hong Kong’s capital market by providing clarity for fund launches and broadening investment choices while maintaining investor protection. The SFC will monitor the initiative during a six-month pilot, refining it before formal adoption.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR175