On 19 November 2021, Hong Kong’s Securities and Futures Commission (SFC) published a gazette notice specifying that the effective date for the revised Code on Pooled Retirement Funds will be 1 December 2021.
The notice, together with a copy of the new code, which supersedes all previous versions, is available here: PRF Code
For further details of the new code and its effect on Pooled Retirement Funds (PRFs), see our previous publication.
Existing PRFs and those applying for the SFC’s authorisation before 1 December 2021, with key operators currently acting for SFC-authorised PRFs, will have (unless otherwise specified) a year’s transitional period from 1 December 2021 for compliance. In all other cases, the new PRF Code takes effect on 1 December 2021.