Hong Kong regulators find failures in product due diligence and sales processes

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have released a joint circular with a number of key observations and good practices in relation to potential conflicts of interest that may arise from the sale of in-house products, including but not limited to, structured products and investment funds. The circular follows a number of thematic reviews on the sale of in-house products by intermediaries within the same financial group to assess the effectiven