Fund firms, broker-dealers and investment advisers can help plug gaps in Hong Kong’s responsible officer regime, says Julia Leung of the Securities and Futures Commission.
A veteran of Hong Kong’s Securities and Futures Commission, Christina Choi will oversee investment products, in the culmination of a long-running saga. But there remains a question over coverage of China activities.
The securities regulator has appointed Julia Leung as head of intermediaries, only a year after she was named head of investment products, in a surprise move that raises several questions.
Julia Leung of Hong Kong's securities regulator hopes funds will be approved under the mutual recognition scheme this year, as asset managers and distributors work on their plans.
The city's fund assets increased by more than 10% to hit HK$17.68 trillion at the end of last year, the securities regulator has announced. Global investors contributed significantly to the asset increase.
Hong Kong's securities regulator sees mutual recognition as a way of increasing the number of funds domiciled in the city and raising its profile as a regional centre. It also aims to attract more investment to the city.