Regulatory Alerts2009-02-26
Added · Updated
Circular Issued by the Securities and Futures Commission Regarding Self-Examination of Controls and Procedures on Suitability Obligations
The Securities and Futures Commission requires intermediaries making investment recommendations to conduct a formal self-examination of their controls and procedures to ensure compliance with suitability obligations. This directive mandates that such examinations be properly documented and reviewed by senior management, taking into account previous guidance issued in May 2007. Institutions participating in the 2009 HKMA Self-Assessment process are exempt from this separate requirement, while others must provide documentary evidence of compliance during regular on-site examinations.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share