Regulatory Alerts2006-03-03
Added · Updated
Guidance on Retail Wealth Management Business Practices
The Hong Kong Monetary Authority issued this circular to share best practices observed during on-site examinations of Authorized Institutions engaging in Retail Wealth Management. The guidance mandates strict adherence to customer suitability management, including objective risk profiling, product suitability assessments, and enhanced risk disclosures for vulnerable customers. The regulator intends to conduct further examinations in the second quarter of 2006 focusing on the sale of insurance and structured products to retail customers.
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