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 this circular to address identified irregularities and deficiencies in the management of private funds and discretionary accounts by regulated institutions. The document outlines specific operational failures and compliance gaps observed during supervisory reviews to highlight areas requiring immediate remediation. It serves as a directive for registered institutions to strengthen their internal controls and governance frameworks regarding asset management activities.
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