Regulatory Alerts2013-04-22
Added · Updated
Enhanced Regulatory Requirements on Selling of Investment-Linked Assurance Scheme Products
The Hong Kong Monetary Authority issued this circular to impose enhanced disclosure and suitability standards on authorized institutions selling investment-linked assurance scheme products. Institutions must implement an Important Facts Statement and provide written disclosure of all monetary and non-monetary remuneration before executing any transaction. The regulator also mandates rigorous assessments of customer affordability, asset concentration, product due diligence, and premium holiday risks to ensure products align with client needs.
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