Regulatory Alerts2013-02-05
Added · Updated
Circular Issued by the Securities and Futures Commission on Guarding against Risk of Client Asset Misappropriation
The Securities and Futures Commission issued a circular requiring licensed corporations to implement robust internal controls to protect operations and clients from financial losses caused by theft, fraud, and dishonest acts. Registered institutions are mandated to maintain vigilance in supervising their operations and personnel to effectively guard against the risk of misappropriating client assets. These measures ensure strict compliance with the regulatory standards outlined in the circular to prevent financial harm.
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