Hong Kong's Securities and Futures Commission has reprimanded both Bank Trust Consortium and its affiliate, Asia Insurance Pension Fund, for compliance breaches in a guaranteed fund administered under the Occupational Retirement Schemes Ordinance ORSO. The SFC has also suspended Asia Insurance's responsible officer, Wong Kok-Ho, for four weeks.
BCT is the trustee of the Bank Consortium Pooled Retirement Scheme, an authorized ORSO pooled retirement fund, and Asia Insurance manages this scheme's guaranteed portfolio. BCT...