Taiwan seeks HK recognition for funds

The SFC''s Andrew Sheng will be invited to sign an MOU next month recognizing Taiwanese mutual funds.

Taiwan's Financial Supervisory Commission FSC is inviting Andrew Sheng, chairman of Hong Kong's Securities Futures Commission SFC, to sign a memorandum of understanding that would recognize Taiwan mutual funds, allowing them to be marketed in Hong Kong, according to fund managers in Taipei.

The SFC has been invited to attend an international securities conference hosted by IOSCO in Taipei on February 24. The FSC extended the invitation earlier this month when its chairman, Kong Jaw-sheng, was in Hong Kong attending a funds conference hosted by the Investment Company Institute.

The move comes at the same time as the FSC is liberalizing rules for Taiwan-based mutual funds...

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