Re: Information from the Securities and Futures Commission (“SFC”) about the Collective Investment Schemes (“CIS”)
The EAA was informed by the SFC that a set of Questions and Answers (“Q&As”) on CIS involving interests in real property has been issued to help members of the real estate industry to better understand whether they will be operating, managing or promoting any real estate arrangement (including properties in Hong Kong and overseas) that may be a CIS under the Securities and Futures Ordinance. Licensees should note that the issuing of any invitation to the public to acquire an interest or participate in the arrangement of CIS (e.g. the advertisements and distribution of promotion materials) without prior authorization or an exemption applied under the SFO may constitute an offence under the SFO. The EAA encourages licenses to read the cover letter and the Q&As issued by the SFC by clicking here.