Perhaps taking a cue from the Internal Revenue Service (IRS) in the US which is incentivising whistleblowers, Hong Kong’s Securities and Futures Commission (SFC) is putting the onus for ensuring compliance amongst clients on relationship managers at private banks. From 1st December 2012, licensed or registered persons of the Code of Conduct are required to report any suspicions they may…
New SFC rule turns private bankers into whistleblowers
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