Investor Presentaiton

Implications for US Managers Marketing Private Funds to Investors in Hong Kong & Mainland China • SFC Registration - Any launch, large or small, will be subject to scrutiny during the registration process. Due care should be spent in preparing the application and toiling through the details. Moreover, like the Monetary Authority of Singapore, the SFC is a "hands on" regulator, meaning that it likes to have contact with the company. It is advisable to schedule a time prior to filing when relevant senior team members can meet the staff. Accordingly, any manager should prepare for a colloquy prior to being declared effective. Part of the regulatory application is a formal undertaking by the company and the senior staff associated with the company that all participants are "fit and proper" to conduct regulated activities. The questions are similar to those found in the SEC's Form ADV Part I with regard to prior acts, but act as an affidavit or formal undertaking as all representatives are required to sign the forms. Finally, like the Form ADV, prompt updating of SFC forms is required for any changes to the particulars of the business, management, and staff. Morgan Lewis 24

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