Investment Trusts: Hong Kong
(asked on 14th March 2023) - View Source
Question to the HM Treasury:
To ask His Majesty's Government whether HM Treasury has fully implemented the Mutual Recognition of Funds (MRF) between the UK and Hong Kong.
This question was answered on 28th March 2023
The Mutual Recognition of Funds arrangement between the UK and Hong Kong is the responsibility of financial regulators in each jurisdiction. The Government is therefore not involved in its implementation.
Specifically in 2018, the Financial Conduct Authority entered into a Memorandum of Understanding on Mutual Recognition of Funds (MoU), which allows eligible Hong Kong public funds and United Kingdom retail funds to be distributed in each other’s market through a streamlined process.