CPTEnglishIntermediate· Asset & Wealth Management, Licensing & Regulations

Code on Open-Ended Fund Companies

Legal & Compliance 1h 31 lessons

What you'll learn

Understand the regulatory authority of the Securities and Futures Commission (SFC) regarding OFC oversight and registration.
Analyze the operational requirements for umbrella structures and the legal implications of segregated liability.
Apply the seven General Principles to ensure ethical fund management and professional conduct.
Identify the specific eligibility criteria and fitness requirements for directors, investment managers, and custodians.
Determine the mandatory disclosure obligations required for public and private OFC offering documents.
Evaluate the procedures and compliance standards involved in the voluntary termination and dissolution of an OFC.

About this course

This CPT course provides a technical examination of the Code on Open-Ended Fund Companies (OFC Code) as established by the Securities and Futures Commission (SFC) in Hong Kong. It serves as essential training for licensed professionals tasked with navigating the corporate vehicle framework for collective investment schemes. Understanding the interaction between the Securities and Futures Ordinance and the OFC Rules is necessary for practitioners managing fund structures, as these provisions dictate the statutory registration, operational governance, and compliance obligations required to maintain SFC authorization in a highly regulated market.

Who should attend

SFC-licensed Responsible Officers
Compliance and Legal Counsel
Fund Operations Managers
Asset Management Investment Professionals
Company Secretaries for Financial Institutions
Internal Auditors
Risk Managers

Key topics covered

Regulatory Framework and Governance

SFC registration powers and legal basis under SFO
Public versus private OFC structural requirements
Application of the seven General Principles of the OFC Code
Regulatory consequences for breaches and compliance failures
Process agent requirements for overseas operators

Operational Requirements and Roles

Fitness and independence standards for directors
Investment manager operational duties and recordkeeping
Custodian eligibility and asset protection obligations
Director oversight and continuity planning
Management of conflicts of interest

Fund Structures and Lifecycle

Statutory segregation of liabilities in umbrella OFCs
Offering document disclosure and naming requirements
Data privacy and personal information management
Procedures for voluntary termination and dissolution

How this course satisfies CPT

This course covers Asset & Wealth Management, Licensing & Regulations topics recognised by the SFC as eligible for CPT. Upon completion, you'll earn approximately 1 CPT hours and receive a certificate of completion for your training records. The course includes quizzes to verify your understanding, satisfying the SFC's requirement that online learning includes an independent assessment and maintains a reliable audit trail.

Learn more about CPT requirements

Curriculum · 31 lessons

1:06:38 of content

1.
Comprehensive Regulatory Framework for OFCs
FREE
2:02
2.
Understanding the Open-Ended Fund Company Framework
FREE
2:18
3.
Regulatory Authority and Commission Registration Powers
FREE
2:07
4.
Key Provisions of SFO and OFC Rules
2:19
5.
Code Compliance and Regulatory Waiver Flexibility
1:59
6.
Regulatory Consequences of OFC Code Breaches
2:00
7.
Quiz: Comprehensive Regulatory Framework for OFCs – Regulatory Consequences of OFC Code Breaches
QUIZ
5 questions · requires lessons
8.
Structural Requirements for Public and Private OFCs
2:41
9.
Sub-Fund Treatment and Umbrella OFC Structures
2:08
10.
Interpretation and Regulatory Harmony in OFC Code
1:17
11.
Data Privacy and Personal Information Management
2:38
12.
Key Definitions and Foundational Concepts
2:09
13.
Understanding OFC Categories and Offering Documents
2:00
14.
Quiz: Structural Requirements for Public and Private OFCs – Understanding OFC Categories and Offering Documents
QUIZ
5 questions · requires lessons
15.
General Principles for OFC Operations
2:09
16.
General Principle One Acting With Fairness
2:02
17.
General Principle Two Diligence and Competency
2:13
18.
General Principle Three Proper Asset Protection
2:03
19.
General Principle Four Managing Conflicts of Interest
2:09
20.
General Principle Five Effective Disclosure Standards
2:01
21.
Quiz: General Principles for OFC Operations – General Principle Five Effective Disclosure Standards
QUIZ
5 questions · requires lessons
22.
General Principles Six and Seven Compliance Obligations
2:16
23.
Registration Application and Documentation Requirements
2:00
24.
Critical Offering Document Disclosures for OFCs
2:17
25.
Umbrella OFC Warning Statement and Risks
2:00
26.
Process Agent Requirements for Overseas Operators
2:03
27.
Naming Requirements and Restrictions for OFCs
2:03
28.
Quiz: General Principles Six and Seven Compliance Obligations – Naming Requirements and Restrictions for OFCs
QUIZ
5 questions · requires lessons
29.
Director Qualifications and Independence Standards
2:20
30.
Director Oversight Responsibilities and Continuity Planning
2:16
31.
Investment Manager Fitness and Operational Duties
2:14
32.
Investment Manager Recordkeeping and Retention Requirements
2:09
33.
Custodian Eligibility Standards for Public Private OFCs
2:22
34.
Termination and Dissolution Framework for OFCs
2:12
35.
Quiz: Director Qualifications and Independence Standards – Termination and Dissolution Framework for OFCs
QUIZ
5 questions · requires lessons
36.
Key Takeaways of the OFC Regulatory Regime
2:11

Requirements

Fundamental knowledge of the Hong Kong financial services regulatory landscape.
Familiarity with the Securities and Futures Ordinance (SFO) and related subsidiary legislation.
Professional interest in fund administration, legal compliance, or investment management operations.

Certificate of Completion

Complete this course to earn a verifiable Certificate of Completion for your CPT training record. Here's how:

1Watch all the lessons — work through every lesson in the curriculum. Each completed lesson brings your progress closer to 100%.
2Pass all the quizzes — score 70% or higher in each quiz within the course. Quizzes are part of the curriculum and must be passed to finish.
3Download your certificate — once you reach 100% progress, download a personalised Certificate of Completion showing your name, the CPT hours earned, and your quiz score.

Sample certificate: