The FCA and the Securities and Futures Commission (SFC) have entered into a Memorandum of Understanding (MoU) on mutual recognition of funds, enabling eligible Hong Kong public funds and UK retail funds to be distributed in each other's market through a streamlined process. The MoU establishes the following in relation to the cross-border offering:

  • a framework for exchange of information;
  • regular dialogue; and
  • regulatory cooperation.

Further information on the scheme can be found in the SFC circular and the FCA circular.