[Hong Kong Securities and Futures Commission: Combating misconduct in the asset management industry will be a top priority] Golden Finance reported that the Hong Kong Securities and Futures Commission officially issued a circular stating that in the process of supervising licensed corporations engaged in the management of private funds and entrusted accounts, a number of deficiencies and substandard conduct were found. Many cases involve serious misconduct, posing a major threat to the interests of investors and shaking the public's confidence in the integrity and stability of the Hong Kong market and Hong Kong's status as an international asset management center. The cases described in the circular involve violations in multiple areas, ranging from conflicts of interest, risk management and investing within the scope of authorization, providing information to investors to valuation methods, and also lists the current responsibilities applicable to asset management companies in such circumstances. The Hong Kong Securities and Futures Commission pointed out that asset management companies should review the concerns contained in the circular and take appropriate measures to correct all deficiencies identified.
