Code on Open-Ended Fund Companies
Master Hong Kong's regulatory framework for OFC registration, management, and operation
Duration / CPT Hours
1 Hour
Level
Professional
Format
Recorded Video
Course Fee
Free
Course Overview
This comprehensive CPT course provides practical guidance on the Code on Open-Ended Fund Companies (OFC Code), which establishes the regulatory framework for OFC registration, management, and operations in Hong Kong. The course covers both public and private OFCs, key operator requirements, and ongoing compliance obligations.
Participants will gain a thorough understanding of the OFC structure, general principles governing OFCs, registration requirements, governance frameworks, custody arrangements, and disclosure obligations under Hong Kong's regulatory regime.
What You'll Learn
Course Structure
Introduction to OFCs and General Principles
Overview of the OFC Code, legal framework, and the seven general principles (GP 1-7) governing all OFCs
Key Operators: Directors, Investment Managers & Custodians
Requirements for board composition, investment manager licensing, and custodian duties for scheme property protection
Corporate Governance and Compliance
Administrative requirements, auditor independence, financial reporting, and ongoing disclosure obligations
Private OFCs and Termination Procedures
Investment scope for private OFCs, scheme changes, fund operations, and voluntary termination processes
Key Topics Covered
OFC Framework
- •SFC registration powers under section 112D
- •Public vs private OFC requirements
- •Instrument of incorporation requirements
- •Segregated liability for umbrella OFCs
General Principles
- •GP 1-7: Acting fairly, diligence, asset protection
- •Managing conflicts of interest
- •Clear and effective disclosure
- •Regulatory compliance and cooperation
Key Operators
- •Board: minimum one independent director
- •Investment manager: Type 9 license required
- •Custodian: scheme property safeguarding
- •Auditor: independence requirements
Compliance & Termination
- •Financial reporting: HKFRS or IFRS
- •Annual and interim report timelines
- •Scheme changes and shareholder approval
- •Voluntary termination and solvency statements
Who Should Attend
Certificate of Attendance
Upon completion of the course, participants will complete a short multiple-choice quiz to reinforce key concepts. After passing the assessment (60% or higher), you'll receive an official Certificate of Attendance issued by Legal & Compliance, which can be used to support your professional development record and CPT requirements.
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