Compliance, Legislative & Regulatory Standards
[Webinar] Latest Enforcement Cases Relating to Suitability Requirement
Overview
According to the findings of the SFC-HKMA’s joint survey released on 27 Sep 2022, a total of 390 licensed corporations and registered institutions engaged in the sale of non-exchange traded investment products. During 2021, the aggregate transaction amount is HK$5,015 billion, with the participation of over 770,000 investors. It is vital that intermediaries are conversant with the latest Suitability Requirements.
The course will share the enforcement cases relating to Suitability Requirement identified by the SFC and the lessons learnt.
Objective
At the end of seminar, participants should be able to describe the best practices of the SFC’s Suitability Requirement.
Content
1. All licensed and registered persons’ suitability obligations
2. Triggering of Suitability Obligations
3. Suitability Requirement process
4. Latest SFC enforcement cases relating to Suitability Requirement focusing on errors in:
- Conducting client risk profiling
- Products due diligence
- Matching of products
- Documentation and disclosure
- Record keeping
- Others
5. Lessons learnt
Who should attend
Target participants are industry practitioners with basic understanding of the SFC Suitability Requirement.
Financial Incentive Scheme of the WAM Pilot Programme
This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).
Speaker/Course Instructor
Ms Lam graduated from the University of Manchester Institute of Science and Technology. She then attained Master in Finance from the City University of Hong Kong and Master in Human Resource Management and Training from the University of Leicester. She is an Associate of the Chartered Institute of Bankers and a Certified Banker. She also gained the CFPCM Examination Certificate and the Professional Certificate for ECF Anti-Money Laundering and Counter-Financing of Terrorism.