Regulatory Alerts2019-11-22
Added · Updated
Circular Issued by the Securities and Futures Commission on Dubious Private Fund and Discretionary Account Arrangements or Transactions
The Securities and Futures Commission issued this circular to provide guidance to asset managers on evaluating whether proposed private fund and discretionary account arrangements are dubious. Registered institutions engaging in asset management must adhere to the outlined standards of conduct and red flags to ensure compliance. Disregarding these warnings may result in breaches that call into question the fitness and properness of the registered person.
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