Compliance, Legislative & Regulatory Standards

[Webinar] Latest Enforcement Cases Relating to Suitability Requirement

Overview

According to SFC-HKMA joint product survey result released on 27 September 2023, there were 371 licensed corporations (LCs) and registered institutions (RIs) engaged in the sale of investment products in 2022 with the participation of over 800,000 clients. Structured products were the most prevalent type of products sold by the respondent firms followed by collective investment schemes and debt securities. With the active involvement by LCs and RIs in the sale of investment products, 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

Stella LAM
Dr Lam is both an experienced banker, and a seasoned trainer. Having gained a decade of experience in consumer banking and branch management at an international leading bank, she made a shift to the learning and development field - she was a university teaching staff, and she led the personal banking training department in different banks. She is now an independent consultant to various financial institutions.

Dr Lam was awarded the Doctor of Business Administration by Swiss Business School. Before that she attained Master in Finance from the City University of Hong Kong and Master in Human Resource Management and Training from the University of Leicester. Her first degree was with the University of Manchester Institute of Science and Technology.

As for professional attainment, 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.

Details

Code
TPRCR24015504
Date & Time
Tuesday, 23 Jul 2024 (12:00PM - 2:00PM)
Venue
Virtual Platform
Relevant Subject
Type 1 - Dealing in securities
Type 2 - Dealing in futures contracts
Type 3 - Leveraged foreign exchange trading
Type 4 - Advising on securities
Type 5 - Advising on futures contracts
More
Language
Trad. Chi / Cantonese
Hours
SFC:2.00, PWMA:2.00
Fees
All Member: HK$480
Staff of Corporate Member: HK$480
Student Member (UHKSI): HK$220
Chinese Securities Association of Hong Kong (HKCSA): HK$670
Non-Member: HK$960