HK, Thailand agree to distribute funds

The Securities and Futures Commission and the Securities and Exchange Commission of Thailand have entered into a Memorandum of Understanding on Mutual Recognition of Funds to allow eligible Hong Kong and Thai public funds to be distributed in each other’s market.

This establishes a framework for the exchange of information, regular dialogue as well as regulatory cooperation on cross-border offerings of funds.

In addition, the two regulators have agreed to speed up approval process of a local feeder fund investing in an MRF-eligible Thai or Hong Kong master fund and to clarify how they may be operated in a streamlined manner.