SFC warns deficiencies and misconduct in management of private funds and discretionary accounts
The Securities and Futures Commission (the "SFC") issued a circular on 9 October 2024 setting out various deficiencies and misconduct that it identified while supervising licensed corporations engaged in managing private funds and discretionary accounts, together with specific case examples for practical illustration.
This insight serves as a reminder to licensed corporations engaged in the asset management business of the standard expected of them.
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