Regulatory Alerts2021-10-29
Added · Updated
Findings of concurrent SFC-HKMA thematic review of spread charges and other practices
The Securities and Futures Commission and the Hong Kong Monetary Authority issued this circular to outline regulatory expectations for intermediaries following a 2020/21 thematic review of spread charges and related practices. The regulators require intermediaries to implement robust policies and controls for handling price improvements, ensure bilateral pricing agreements are agreed upon in writing, and mandate specific pre-transaction disclosures of monetary and non-monetary benefits. Senior management bears primary responsibility for ensuring compliance with these standards, including timely post-transaction reporting of any retained benefits that exceed previously disclosed amounts.
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