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CSRC and SFC to embark on Mainland-Hong Kong Mutual Recognition of Funds initiative

( May 26, 2015, 05:32 GMT | Official Statement) -- MLex Summary: The China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong issued a joint announcement on the launch of the Mainland-Hong Kong Mutual Recognition of Funds, or MRF, initiative. The MRF will be implemented on July 1, 2015, and will allow eligible Mainland and Hong Kong funds to follow streamlined procedures to obtain authorization to offer investments to retail investors in each other’s market, according to the announcement. The two regulators signed a memorandum of regulatory cooperation on May 22 and have respectively prepared related rules for the initiative.The statement follows:...

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