Regulatory Alerts2011-11-28
Added · Updated
Circular on Provision of Services to Clients for Conducting Transactions in Other Jurisdictions
The Securities and Futures Commission issued a circular requiring intermediaries to establish risk management policies when facilitating client transactions through overseas counterparties. Intermediaries must evaluate counterparty risks, avoid excessive client money placement abroad, and clearly explain associated trading risks to clients. Additionally, intermediaries are expected to proactively address client inquiries and provide updated information regarding overseas transactions.
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