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November Regulatory Round-up: Final judgment on scope of “anti-Bartlett” clause; UBS fined for spread overcharges; Regulators launch AI frameworks as bank adoption increases

“Anti-Bartlett” clause exempts trustee bank from fiduciary duty The Hong Kong Court of Final Appeal (CFA) handed down its judgment in Zhang Hong Li v DBS Trustee in November. Reversing the judgment of both the Court of Appeal and Court of First Instance, the CFA relied on the anti-Bartlett clause in the trust instrument to exempt the trustee from any…

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