The Procedures regulate fund offerings, purchase and redemption of fund shares, fund investments, distribution of earnings, and fund shareholders' general meeting.
The framework for the second round of the Mainland-Hong Kong Closer Economic Partnership Arrangement was concluded in August. Now, the two sides have signed the "Legal Text", which has three annexes.
The Procedures deal with qualifications of fund distribution agents, fund publicity and promotional materials requirements, and the regulation of sales business and fund sales charges.
Guideline for the issuance, investment ratio, investment term, risk control and compliance procedures in relation to insurance company's subordinated debt investment.
The Circular provides eight qualifications that a listed parent company must meet, and adopts a mechanism to ensure the independent listing status and continuous profitability of the listed parent company after the spin-off.