SFC warns against misuse of private funds and discretionary accounts

25 November 2019 | 3 minutes read

In a circular issued last Thursday, Hong Kong’s SFC reiterated the need for asset managers to be on guard against dubious arrangements or transactions involving private funds and discretionary accounts after it had identified possible misconduct among investment managers. The SFC explained that in its supervision of asset managers, it had identified cases where asset managers largely followed investor’s instructions…

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