Structurers call on SFC not to remove ‘safe harbour’ rules
Providers fear collapse in private placement volumes and shift of business to Singapore
Structured product issuers, distributors, private bankers and industry associations have called on Hong Kong’s Securities and Futures Commission (SFC) to reconsider its proposal to remove the so-called ‘safe harbour’ rules that they have long relied on to distribute structured products. Some parties believe as much as 95% of structured products’ notional value sold in 2007 and 2008 in Hong Kong was through private placement. Safe harbour rules have enabled providers to issue products without
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