Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets

Phone: 650.723.2465
Fax: 650.725.0253

Type: Regulation
Date: 10/04/2019
Agency: Securities and Futures Commission
Jurisdiction: Hong Kong
Type of Law: Other
Status: Existing
Official URL: External link

These terms and conditions set out the principles and requirements (where applicable) with which corporations licensed by the Securities and Futures Commission (SFC) should comply when managing portfolios (or portions of portfolios) that invest in Virtual Assets and meet the de minimis threshold. These terms and conditions are imposed on Virtual Asset Fund Managers by way of a licensing condition. Contravention of a licensing condition is likely to be considered as misconduct under the Securities and Futures Ordinance (Cap. 571) (SFO) which will reflect adversely on the fitness and properness of a Virtual Asset Fund Manager to remain licensed and may result in disciplinary action by the SFC.