Re: Suspected Unauthorised CIS Alert List Newly Issued by the SFC

The sale of certain properties may, depending on their investment terms and arrangements, constitute a sale of interests in a collective investment scheme (“CIS”) which is governed by the Securities and Futures Ordinance (“SFO”). On this, the Estate Agents Authority (“EAA”) would like to bring to the licensees’ attention that the Securities and Futures Commission (“SFC”) has recently launched a new “Suspected Unauthorised CIS Alert List” to alert the public about arrangements which are suspected to be CIS. Licensees should note that a CIS may not be offered to the public in Hong Kong without the SFC’s authorisation. Licensees, particularly those participating in the sale of properties situated outside Hong Kong, are advised to check the alert list issued by the SFC and not to engage in activities which may involve an unauthorised CIS in contravention of the SFO. Please click here to read the alert list, and here for the web page of the Investor and Financial Education Council for more information about CIS.

(1 September 2021)