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Hong Kong Law

May 2011

Best Boutique Firm 2014
Asian Legal Business Awards

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www.charltonslaw.com

Charltons - Hong Kong Law Newsletter - Issue 122 - 24 May 2011

Public offers of structured products

New regime under Part IV of the Securities and Futures Ordinance

Securities and Futures Commission

Exemptions for offers of unlisted structured product – professional investors, persons outside Hong Kong, or not involving an offer or invitation to the public

The Securities and Futures and Companies Legislation (Structured Products Amendment) Ordinance 2011

Collective investment schemes

Companies Ordinance prospectus regime

Products falling outside both the CO Prospectus Regime and Part IV SFO

Derivative element

Examples of Structured Product – equity linked notes, credit linked notes, equity linked deposits and equity linked instruments

Requirement for SFC authorisation for public offers of structured products and issue of advertisements and offering documents to the public
Compliance with the Code on Unlisted Structured Investment Products
Loss of Companies Ordinance Safe Harbours
Loss of Exemptions for documents issued by Type 1, Type 4 and Type 6 Licensed intermediaries
Hong Kong Selling Restrictions