Hong Kong's Securities and Futures Commission SFC has issued a report designed 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. Entitled the Report on Selling Practices of Licensed Investment Advisers, the SFC conducted a theme inspection of a mixed bag of 15 investment advisors to address the problem of misselling to customers and to study measures to enhance investor protection and industry transparency in the industry.
According to the regulator and the information collected, several key requirements need to be adhered by investment advisors when giving advice to ensure reasonably suitable recommendations on fund...
