The Hong Kong Monetary Authority (HKMA) should take a step further in relaxing selling procedures for sophisticated private banking clients, according to EFG Asia Pacific chief executive Albert Chiu. "In the past year and a half, the regulator has really changed its stance," Chiu told SRP. "New selling procedures require much more transparency even on the private banking level. Only recently did the HKMA divide what are retail and private banking clients from non-private bank clients. It's a st