Regulation Archives - Page 12 of 45

Banks handed tighter regs on fund due diligence

SFC’s recently introduced “complex product” regulations have extended retail investor due diligence requirements to professional investors.

As a manager of investment portfolios for clients in Hong Kong, he was convicted of accepting illegal commission payments.

The country’s securities regulator wants fund managers and distributors to disclose more information about the products’ risks.

Aberdeen Standard Investments is the latest wholly-foreign owned enterprise manager to expand into advisory services in China.

For involvement in the 1MDB scandal, Tim Leissner also has a lifetime prohibition on entering Singapore’s financial industry.

But the hope is that a July change in Cayman Islands regulations will steer hedge and private fund managers toward locally-domiciled funds.

A number of firms are still finding it difficult to comply with Hong Kong’s manager-in-charge (MIC) regime.

While representing UBS Singapore, he had forged documents and falsified company emails, the regulator said.

Companies that want to list on the Hong Kong Stock Exchange will be asked to explain why they lack diversity on the board.

The two foreign firms are the first to receive approval to provide onshore investment advisory services in China.