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SEC public hearing on proposed rules to accommodate HK-Thailand Mutual Recognition of Funds

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Bangkok, 13 July 2020 – The SEC is seeking public comments on the proposed regulations to accommodate cross-border fund offerings under the project for Mutual Recognition of Funds between Hong Kong Special Administrative Region of the People’s Republic of China and Thailand (HK-TH MRF). The supervisory proposal aims to enhance international market connectivity in accordance with the governmental policy and offer more investment alternatives for investors in both markets.

SEC and the Securities and Futures Commission (SFC) are developing a bilateral agreement for cross-border fund offerings under the HK-TH MRF project with the main objective of facilitating mutual recognition of funds, following the Memorandum of Understanding for Promotion of Economic Connectivity between Hong Kong and Thailand, signed by Deputy Prime Minister Somkid Jatusripitak and the Honourable Mrs. Carrie Lam, Chief Executive of Hong Kong Special Administrative Region (SAR) of the People’s Republic of China, on 29 November 2019. This cooperation aims to promote competitiveness of local intermediaries in the international arena and increase investment alternatives for investors of both markets. SEC is therefore proposing to amend the rules on supervision of cross-border fund offerings to accommodate the HK-TH MRF project. In this regard, SEC applies the same principles for supervising the ASEAN Collective Investment Schemes (ASEAN CIS) and the Asia Region Funds Passport (ARFP), for which related regulations have already been put in place, and will expand the scope of the related regulations to cover both inbound and outbound unit offerings in support of the HK-TH MRF project. The consultation paper is available at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=635. Stakeholders and interested parties are welcome to give comments and suggestions via the website or email: [email protected] or [email protected] or [email protected] The public hearing ends on 10 August 2020.

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Regulator Information

Abbreviation: SEC TH
Jurisdiction: Thailand

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