Jersey-based companies should gain better access to the Hong Kong market for their investment produc...
Jersey-based companies should gain better access to the Hong Kong market for their investment products after a Letter of Intent was signed between the two jurisdictions.
The Letter, signed by the Jersey Financial Services Commission (FSC) and Hong Kong's Securities and Futures Commission (SFC), has also been billed as providing a framework for enhanced co-operation between the two regulatory authorities.
David Carse, director general of the FSC, said: "Co-operation under the Letter will facilitate access to Hong Kong's markets for Jersey investment products and help develop the range of products that are available for distribution in Jersey.
"It will also provide a formal basis for exchanging views with an important Asian supervisor on matters of common interest."
Aims of deal
Equivalence of regulatory frameworks in each jurisdiction for regulation, supervision and marketing of investment products.
Mutual recognition of investment products.
Strengthening of regulatory co-operation and assistance over cross-border supervision of fund management activities.
Since November 2008
Share issue oversubscribed
PARTNER INSIGHT: For many advisers, outsourcing to a multi-manager or discretionary fund manager makes sense, allowing them to focus on the adviser-client relationship
Events, information and other services
An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client