In This Issue:
- Hong Kong SFC Report on Selling Practices
- Mandatory Clearing of OTC Derivatives: Intersections Between U.S. and Hong Kong Law
- New EU Transparency Regime for Short Positions
- Oversight Council Pursued U.S. Financial Stability in 2012
- Malta: Recognised Incorporated Cell Companies
- With U.S. SEC Chairman Schapiro Stepping Down, the Path Toward Future Money Market Reform Could Be Uncertain
- Excerpt from Hong Kong SFC Report on Selling Practices
On October 24, 2012, the Hong Kong Securities and Futures Commission issued a “Report on the Thematic Inspection of Selling Practices of Licensed Corporations”, examining the selling practices of 10 licensed corporations (including independent financial advisers, wealth management affiliates of global financial institutions and stock brokers) that are involved in the sale of investment products. The SFC identified varying degrees of deficiencies and shortcomings within the 10 LCs. It is timely for LCs to review their selling practices now, and ensure that they meet the standards referred to in the Report.
Please see full newsletter below for more information.
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Topics: Derivatives, Dodd-Frank, EU, Financial Stability Acts, Hong Kong, OTC, SEC, SFC
Published In: Administrative Agency Updates, Finance & Banking Updates, International Trade Updates, Securities Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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