Regulatory Alerts2017-02-23
Added · Updated
Guidance on Selling of Investment Products and Handling of Client Securities
The HKMA and SFC issue joint guidance clarifying regulatory standards for Authorized Institutions regarding the sale of investment products and client securities handling. The document mandates rigorous pre-trade risk disclosure, cumulative concentration risk assessments, and proper documentation of alternative products considered to ensure suitability. It further outlines requirements for portfolio-based suitability in private banking, supervisor reviews for transaction mismatches, staff training, and regular independent reviews of controls over client securities.
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