The SFC has signed a "declaration of mutual recognition" with the Australian Securities and Investments Commission (ASIC) to facilitate the sale of retail funds to investors in each other's market.

The declaration allows most funds registered in Australia for offer to retail investors in Hong Kong while making available to Australian investors similar funds authorised in Hong Kong. ASIC-registered funds seeking to be marketed in HK will still require authorisation from the SFC but will enjoy a streamlined vetting process.

This is the first such agreement the SFC signed with an overseas securities regulator.