Jeremy Lam and Taylor Hui recently featured in the Hong Kong Economic Times, discussing shortened approval processes for investment products in Hong Kong and the mutual fund recognition scheme.
Taylor detailed how since the official announcement of mutual fund recognition in late May, more than 10 mainland funds have been preparing to submit their MRF applications on 1 July.
Jeremy explained that the SFC approval process generally takes four months, which is comparatively longer than other jurisdictions. A similar process would take one to three months in regions such as the UK, Europe and Singapore. The industry is now working towards shortening the approval process.