All posts tagged "product due diligence"
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134EnforcementSFC Suspends GEO Securities Executive for 7.2 Months
GEO's breaches were attributable to Lun Sheung Nim's failure to discharge his duties as a responsible officer and member of the senior management.
June 11, 2021 -
657Fintech / RegtechHKMA Launches Regtech Challenge to Address Banking Pain Points
The HKMA invites Regtech providers to showcase solutions to help Hong Kong banks solve common risk management and regulatory compliance pain points.
March 26, 2021 -
195EnforcementSFC Fines GEO Securities for Breaching Licence Conditions
The firm also did not have effective controls in place for product due diligence, client risk tolerance assessment, and record-keeping.
March 25, 2021 -
565AML / KYCGreater Bay Regulators Sign MoU on Wealth Management Connect
The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.
February 7, 2021 -
1.1KAML / KYC
SFC, HKMA Offer Clarity on Product Disclosure, Suitability Obligations
The SFC and HKMA say firms may adopt a risk-based approach to streamline the provision of product disclosures for sophisticated or experienced investors.
December 30, 2020 -
988Hong KongHKMA Warns of Risks in Leveraged Investment Products
Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.
August 10, 2020 -
688Enforcement
SFC Fines Convoy Asset Management Over Bond Sales
The firm failed to comply with product due diligence requirements, client suitability obligations and specific guidance on the sale of fixed income products.
May 20, 2020 -
1.0KEnforcementSFC Fines Mega International Commercial Bank Over Sales Practices
Mega did not properly assess clients’ investment objectives, risk tolerance levels and knowledge of derivatives, or ensure the suitability of its fund recommendations for clients.
May 7, 2020 -
1.4KEnforcementSFC Fines BOCI Securities for ‘Systemic Deficiencies’ in Selling Practices
BOCI Securities failed to comply with requirements relating to client profiling, product due diligence, and suitability assessment in its sale and distribution of investment products.
March 19, 2019
