SFC launches 15-day fast-track authorisation for funds from MRF jurisdictions
Hong Kong's SFC has created a new accelerated authorisation route for simple retail funds domiciled in jurisdictions with which it holds mutual recognition arrangements. This circular sets out which funds qualify, the compressed timeline, and the pilot period during which the SFC will decide whether to make it permanent.
- FASTrack targets authorisation within 15 business days of a complete application, against the standard one-to-two month and non-standard two-to-three month targets.
- The SFC will take up or refuse an application within five business days and, if taken up, grant authorisation within 10 further business days.
- Eligible funds must be equity, bond or mixed funds, index-tracking ETFs or unlisted funds, or feeder funds whose master fund is FASTrack-eligible, and must not be complex products.
- The management company must be located in an MRF jurisdiction or an SFC-acceptable inspection regime (AIR) jurisdiction with good regulatory records.
- FASTrack took effect on 4 November 2024 with a six-month pilot period ending 4 May 2025, after which the SFC will consider formal adoption.