Regulatory Alerts2017-08-02
Added · Updated
Circular Issued by the Securities and Futures Commission on Irregularities and Deficiencies in Managing Private Funds and Discretionary Accounts
The Securities and Futures Commission issued a circular to registered institutions highlighting irregularities and deficiencies identified during the supervision of licensed corporations managing private funds and discretionary accounts. The regulator noted that several accounts with concentrated, illiquid, and interconnected investments exhibited irregular features requiring immediate attention. Registered institutions are required to maintain adequate management oversight and ensure appropriate standards of conduct and proper risk management measures in their asset management business activities.
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