Regulatory Alerts2018-02-15
Added · Updated
Circular Issued by the Securities and Futures Commission on Client Facilitation
The Securities and Futures Commission issued guidance on the standards of conduct and internal controls for client facilitation services. The circular incorporates observations and good practices derived from a recent thematic review of licensed corporations' management supervision. Registered institutions are required to review and enhance their policies and controls accordingly.
Our Ref: B1/15C G16/1C 15 February 2018 The Chief Executive All Registered Institutions Dear Sir / Madam, Circular Issued by the Securities and Futures Commission (“SFC”) on Client Facilitation I am writing to draw your attention to the attached circular issued by the SFC (“the Circular”) setting out guidance on the standards of conduct and internal controls in respect of client facilitation services. The Appendix to the Circular provides some observations and good practices identified in the SFC’s recent thematic review of licensed corporations’ management supervision and controls for client facilitation. Where applicable, registered institutions should review and enhance their policies, controls and management supervision as necessary, having regard to the guidance set out in the Circular and its Appendix. Yours faithfully, Alan Au Executive Director (Banking Conduct) Encl. c.c. SFC (Attn: Ms Julia Leung, Executive Director (Intermediaries))
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