On 4 July 2008, the SFC gazetted the Advertising Guidelines Applicable to Collective Investment Schemes Authorised under the Product Codes (revised Advertising Guidelines) and the revisions to the following product codes:
- the Code on Unit Trusts and Mutual Funds
- the Code on Investment-Linked Assurance Schemes
- the Code on Pooled Retirement Funds
- the Code on MPF Products (collectively, the "Product Codes")
The aim of the revisions are to implement the streamlining measures set out in the consultation conclusions on the proposed streamlining of the pre-vetting of notices and advertisements of relevant authorised collective investment schemes published on 26 June 2008.
Since the revisions and the revised advertising guidelines took effect on 1 August 2008, the SFC has ceased to pre-vet eligible notices and advertisements. Advertisement issuers may continue to follow the current advertising guidelines included in the respective Product Codes until 31 December 2008, but must comply with the revised advertising guidelines from 1 January 2009.