Regulatory Alerts2018-02-09
Added · Updated
Circular Issued by the Securities and Futures Commission on Best Execution
The Securities and Futures Commission issued this circular to provide detailed guidance on the standards of conduct and internal controls licensed corporations must implement to deliver best execution. The document outlines specific requirements for governance, management supervision, and the establishment of robust policies covering factors such as price, cost, and speed across various financial instruments. It further mandates rigorous monitoring of execution quality, due diligence on third-party arrangements, and clear disclosure to clients regarding best execution obligations and potential carve-outs.
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