Regulatory Alerts2016-12-28
Added · Updated
Update of Requirement Following the Circulars Issued by the SFC in relation to Suitability Obligations
The Hong Kong Monetary Authority updates its requirements for authorized institutions to align with recent Securities and Futures Commission circulars on suitability obligations. The regulator mandates that institutions must maintain records documenting the rationale for investment solicitations or recommendations and provide copies to clients upon request. Additionally, institutions using a portfolio-based approach for private banking customers are reminded to continue complying with existing obligations regarding investment mandates and risk profiles.
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