SFC fines RBC Investment Management Asia on failure to ensure thorough analysis and due diligence in its investment recommendations to its customers

17 August 2012 | 3 minutes read

The Securities and Futures Commission (SFC) has reprimanded and fined RBC Investment Management Asia HK$4 million (US$512,820) in relation to its provision of investment advice to clients on a number of non-SFC authorized funds between November 2006 and July 2008. An SFC investigation into RBC’s practices found that RBC did not provide adequate guidance to its staff on conducting due…

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