SFC reports on IA selling practices

Findings from inspection and investigation designed to further enhance industry awareness of expected standards.

Hong Kong's Securities and Futures Commission SFC has issued a report to enhance industry awareness of standards of investment advisors IAs and to reiterate the code of conduct for the selling of funds in the territory. In its Report on Selling Practices of Licensed Investment Advisers, the SFC conducted a theme inspection with a mixed bag of 15 investment advisors. The idea was to address the problem of misselling to customers and study measures to enhance investor protection and industry transparency.

The sample group for the report consisted of roughly 10% of all SFC licensed advisors in Hong Kong and covered a broad scope of varying operational characteristics including corporate structure,...

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