The regulator reported that clients were categorised as derivatives-knowledgeable without proper assessment or documented verification.
Hong Kong's Securities and Futures Commission (SFC) has taken disciplinary action against Kylin International (HK) after it identified extensive failures in fund management, governance and client- facing processes. The regulator concluded that Kylin’s failures posed risks to market integrity and investor protection SFC noted that Kylin, which managed six segregated portfolios in a Cayman Islands fund between August 2018 and January 2