No Match Found
On 20 August 2021, the Securities and Futures Commission (“SFC”) issued a Circular to licensed corporations – Management and Disclosure of Climate-related Risks by Fund Managers which sets out the expected standards for complying with the amended Fund Manager Code of Conduct (“FMCC”). On the same day, the SFC released a set of Frequently Asked Questions to provide further guidance on how fund managers can comply with the amended FMCC. The Consultation Conclusions on the Management and Disclosure of Climate-related Risks by Fund Managers was also released to summarise the feedback from fund managers and the SFC’s corresponding responses regarding the proposed regulatory requirements for managing climate-related risks.
In this article, we undertake a review of the climate-related risks regulatory framework and set out a step-by-step guide for fund managers who have less than HK$8 billion assets under management (“AUM”) on
(1) how to assess the applicability of the relevant regulatory requirements;
(2) what they should do to ensure compliance; and
(3) any potential legal disclosure considerations.