Clause for concern: SFC’s new requirement spells end for RM “papering practices”

8 November 2016 | 4 minutes read

Legal experts expect the industry-wide practice of “papering the selling process” will fade away once a recently introduced Securities and Futures Commission (SFC) clause formalising the product recommendation process comes into force next year. Many relationship managers (RMs) are using ‘waivers’ in order to recommend products that are not suitable for specific clients “A number of RMs who have learned that a…

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