Regulatory Alerts2017-02-23
Added · Updated
Guidance on selling of investment products and handling of client securities
The Hong Kong Monetary Authority issued this guidance to clarify regulatory requirements for Authorized Institutions regarding the sale of investment products and the handling of client securities. The document mandates risk-based pre-trade disclosures, cumulative concentration risk assessments, and rigorous suitability evaluations for private banking discretionary mandates. It further requires proper documentation of alternative products considered, enhanced supervision for transactions with mismatches, and regular independent reviews of controls governing client securities.
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