The Hong Kong financial regulator has simplified the authorisation of certain European UCITS III funds with new measures streamlining the application processing of funds of funds, guaranteed funds and index funds. UCITS fall under EU regulations governing publicly available funds domiciled in EU member states. The Hong Kong Securities and Futures Commission was the first regulator in Asia to issue measures enabling UCITS III funds to be processed and, as a result, over 1,300 such funds are SFC-authorised. Since the issue of these interim measures in 2005, the SFC has authorised them on a case-by-case basis. Streamlined measures have now been introduced so that the SFC will accept and process applications for authorisation of certain UCITS III funds from Luxembourg, Ireland and the UK on the basis that they already comply with the code. To date, UCITS III funds seeking SFC authorisation have primarily come from these three jurisdictions; UCITS III funds domiciled in other jurisdictions will continue to be considered on a case-by-case basis.