New Proposals to Regulate Mis-Selling of Investment Funds & Structured Products in Hong Kong: Right or Wrong?
Mondaq Business Briefing › Hong Kong Law Articles in English (2009)
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Mondaq Business Briefing › Hong Kong Law Articles in English (2009)
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New Proposals to Regulate Mis-Selling of Investment Funds & Structured Products in Hong Kong: Right or Wrong?
The recent global financial crisis has resulted in an
upswing in regulatory action throughout world markets. In HongKong, the Securities and Futures Commission("SFC") has proposed a slew ofnew requirements, some of which have already been implementedretroactively and without industry consultation. In this article weexamine these ongoing developments in SFC policy and theireffectiveness in reaching a fair balance between investorprotection and costs to the investor and the financialindustry.The past few months have seen major developments in the approachtaken by the Securities and Futures Commission("SFC") in regulating the sale ofinvestment products, including mutual funds, unit trusts andstructured products. The developments continue to crescendo:On October 3, 2008, the SFC issued a circular("Retail Products Circular") to issuersof retail investment products reminding them of various existingregulatory du...See the full content of this document
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