SFC reports on IA selling practices

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.