Title: “FINMA and SFC Sign Cooperative Agreement Boosting Swiss-Hong Kong Fund Management Ties”

Swiss Financial Market Supervisory Authority (FINMA) and Hong Kong’s Securities and Futures Commission (SFC) Ink Cooperation Agreement

Hong Kong/Zurich - The Swiss Financial Market Supervisory Authority (FINMA) and Hong Kong’s Securities and Futures Commission (SFC) have signed a cooperation agreement aimed at enhancing collaboration between the two financial regulatory bodies and facilitating mutual market access for fund providers.

Permitting Mutual Fund Access for Swiss and Hong Kong Fund Managers

According to the agreement:

• Swiss fund managers can now manage collective investment schemes, or mutual funds, available to retail investors in Hong Kong.
• Conversely, Hong Kong fund managers can distribute their funds to the Swiss market.

Equivalent Supervisory Regimes Recognized

Thomas Bauer, FINMA Chair, explains, “Both authorities acknowledge the similarities in their supervisory frameworks for asset managers of collective investment schemes and securities funds in Switzerland and Hong Kong.”

Benefits for Swiss Fund Managers

• Swiss fund managers are now able to enter the Hong Kong financial market, managing funds following Hong Kong’s legal framework or the laws of third-party countries, such as the European Union’s UCITS.
• The agreement also permits the distribution of Swiss securities funds, previously unauthorized for retail distribution in Hong Kong.

Joint Market Access

Equal Footing for Hong Kong Market Participants

Authorized market participants from Hong Kong have gained equal access to the Swiss market. Key information on fund distribution application processes is now available on both regulatory bodies’ websites. FINMA outlines the criteria for entry into the Swiss market, while the SFC issues a circular addressing the same.

Thomas Bauer’s Excitement

Thomas Bauer, expressing his excitement about the agreement, stated, “This accord opens the door for Swiss fund managers to tap into a crucial financial hub. It’s a significant step forward, demonstrating how trustworthy supervision and effective regulation contribute to financial centers’ attractiveness.”

Contact Information

For media inquiries regarding FINMA: Tobias Lux, Media Spokesperson Tel: +41 (0)31 327 91 71 Email: tobias.lux@finma.ch