The Securities and Futures Commission (SFC) has inspected firms covering a wide cross-section of those involved in selling investment products and identified deficiencies and shortcomings in management oversight, training and compliance monitoring, suitability assessment process, use of disclaimers and signing of declarations, compliance with the new Code of Conduct requirements and eligibility verification of professional investors. These deficiencies in the…
SFC unearths dubious selling practices, promises continued supervision and inspection
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