Regulatory Alerts2012-06-12
Added · Updated
Selling of Investment Products to Private Banking Customers
The Hong Kong Monetary Authority issues guidance to authorized institutions on selling investment products to private banking customers, defining eligibility based on investable asset thresholds. The circular mandates a portfolio-based suitability assessment requiring banks to establish clear investment mandates, maintain comprehensive records, and conduct regular risk profile reviews. Additionally, it restricts the sale of accumulators to customers lacking derivative experience, permitting exceptions only under strict justification and control procedures.
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