Regulatory Alerts2016-02-15
Added · Updated
SFC Circular on Protecting Client Assets Against Internal Misconduct
The Securities and Futures Commission issued guidance for Licensed Corporations to implement robust internal controls protecting client assets from internal misconduct. The document mandates periodic reviews of cash and stock reconciliations, strict approval processes for third-party transactions, and independent verification of client authorizations. It further requires firms to establish direct communication channels with clients to detect irregularities and minimize the risk of unauthorized activities.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
safeguarding
Share