The Hong Kong Monetary Authority (“HKMA”) and the Securities and Futures Commission (“SFC”) issued a joint circular and accompanying guidance on sophisticated professional investors (“SPIs”) in July 2023. PWMA subsequently formed an Industry-Led FAQ on the subject upon members’ suggestions.
The Industry-Led SPI FAQ has now been finalized in consultation with the HKMA and the SFC. The FAQ covers the following areas of the SPI scheme: Knowledge and Experience, Investment Goals, Corporations’ Qualifications for SPI, Review/Renewal of SPI Status, Streamlining Thresholds and Product Categories.
PWMA hopes this Industry-Led SPI FAQ will be able to offer its members further clarity on the implementation of the SPI scheme.