SFC examines IA selling practices
Although not a witchhunt, regulator''s theme inspection points to flaws in the investment advisor market
Hong Kong's Securities and Futures Commission (SFC) has issued a report designed to enhance industry awareness of standards of investment advisors (IAs) and to reiterate the code of conduct for the selling of funds in the territory. Entitled the "Report on Selling Practices of Licensed Investment Advisers," the SFC conducted a theme inspection of a mixed bag of 15 investment advisors to address the problem of misselling to customers and to study measures to enhance investor protection and industry transparency in the industry.
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