Asia
regulation severity cuts off ifa choice
Tightening regulation is restricting the investment choice financial advisers in Hong Kong are able to offer their clients and stifling their ability to do business, according to IFAs based in the territory.
merrill lynch fined hk3 5m for regulatory failings
Global banking giant Merrill Lynch has been fined HK$3.5m ($450,000, £290,000) by the Hong Kong financial regulator over a fraud committed by one of its former employees.
insurance agents convicted by hong kong court
Two insurance agents have been convicted by a senior court in Hong Kong of selling investment funds without a licence.
rbc im fined hk4m over sale of unauthorized funds
A HK$4m ($520,000, 420,000) fine has been imposed on RBC Investment Management by the Securities and Futures Commission in Hong Kong in relation to investment advice provided by the firm on non-SFC authorized funds.
adveq opens hong kong office
Zurich-founded asset manager Adveq has opened an office in Hong Kong, its third in the Asia region.