PBs adopt portfolio suitability approach to “take full advantage” of HKMA flexibility

In order to mitigate the burden brought about by the new suitability rules, private banks will likely adopt a portfolio approach to assessing suitability in order to take “full advantage” of the flexibility offered by the Hong Kong Monetary Authority (HKMA), according to EY. “The requirement change has a significant impact on private banks. Banks do quite a lot with…

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