Regulatory Alerts2012-01-05
Added · Updated
Selling of Investment Products
The Hong Kong Monetary Authority issues this circular to guide Authorized Institutions on conduct-related issues in selling investment products to ensure adequate investor protection. The document mandates enhanced pre-sale disclosures for complex instruments such as subordinated, perpetual, and contingent convertible debentures, while requiring rigorous product due diligence and suitability assessments that account for customer concentration risks. Additionally, it stipulates strict record-keeping protocols for client orders and requires institutions to promptly review and enhance their internal controls and staff training procedures.
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