Article by Angelyn Lim, Kher Sheng Lee and Carmen Cheng
The Hong Kong Securities and Futures Commission ("SFC") has announced landmark proposals to overhaul the existing regulatory framework for unlisted investment products in a bid to further safeguard investor interests.
Introduction and Background
In its Consultation Paper on Proposals to Enhance Protection for the Investing Public1 (the "Consultation Paper") issued on 25 September 2009, the SFC has published wide-ranging proposals to address some of the perceived short-comings in the current regulatory environment for the sale of unlisted investment products to the public.
The proposals were formulated in the aftermath of heavy investor losses from failed investments in certain retail structured products (generically referred to in the media...
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