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Robos may need to report regularly to regs due to suitability requirements

Expect Hong Kong’s regulators to request “regular reports” from robo advisors on how their algorithms are complying with incoming suitability requirements, Ian Wood, partner at Simmons and Simmons, has told Asian Private Banker. The Securities and Futures Commission (SFC) launched a consultation on proposed guidelines for online distribution and advisory platforms this May, raising questions among private banks that offer or…

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