Regulatory Alerts2017-09-19
Added · Updated
SFC Circular on Common Instances of Non-Compliance in Managing Funds and Discretionary Accounts
The Securities and Futures Commission issued this circular to highlight common non-compliance instances identified during the supervision of licensed corporations managing private funds and discretionary accounts. The document details specific regulatory concerns including inappropriate cash rebates, failure to ensure suitability and best execution, and deficiencies in liquidity risk management and fair valuation processes. Registered institutions are required to review and enhance their internal control procedures and operational capabilities to ensure compliance with applicable regulatory requirements.
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