Hong Kong SFC, AFRC broaden regulatory cooperation under new memorandum

  • SFC and AFRC signed a new memorandum covering expanded regulatory cooperation.
  • Covered entities include licensed corporations, SFC-licensed virtual asset providers, funds and open-ended fund companies.
  • Both sides will coordinate information sharing, referrals, assistance, inspections and investigations.

Hong Kong’s Securities and Futures Commission (SFC) and Accounting and Financial Reporting Council (AFRC) signed a new memorandum of understanding today, expanding cooperation to financial and compliance reporting by licensed corporations, SFC-licensed virtual asset service providers (firms handling digital-asset services), SFC-authorized funds and registered open-ended fund companies. The framework also covers related auditors’ audit and assurance work, information sharing, case referrals, mutual assistance, and coordinated inspections and investigations involving matters of shared regulatory concern.

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