[Webinar] SFC Review of Online Brokerage Distribution and Advisory Services
With technology advancement and the popularity of online/ digital platforms changing customer behaviour, the Securities and Futures Commission (“SFC”) has conducted a survey of 50 licensed corporations (“LCs”) that provided brokerage, distribution and advisory services online and reviewed the LCs’ handlings of client onboarding, types of products, services and functionalities offered to clients through online platforms, and the extent of use of social media platforms for marketing.
The SFC released the review results in August 2022 summarising key observations and compliance issues identified and setting out regulatory expectations.
This webinar will highlight the some of the lessons learnt from the deficiencies and key findings identified from the review conducted by the SFC and share the expected regulatory standards and industry good practices in particular the following areas:
1. Remote client onboarding;
2. Online trading, distribution and marketing of investment products; and
Senior executives, MIC, Responsible Officers and staff from the licensed corporations including securities / brokerage firms and asset management firms as well as the licenced banks