Regulatory Alerts2025-01-28
Added · Updated
SFC Circular on Deficiencies in Management of Private Funds and Discretionary Accounts
The Securities and Futures Commission has identified egregious misconduct and regulatory breaches by asset managers managing private funds and discretionary accounts, prompting stricter supervisory measures. The circular mandates that senior management strengthen internal controls to prevent conflicts of interest, ensure adequate risk management, provide transparent investor disclosures, and apply appropriate valuation methodologies. To enforce compliance, the SFC will conduct thematic on-site inspections and impose harsher penalties on firms failing to address these persistent deficiencies.
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