Hong Kong
sfc adviser review finds deficiencies
Hong Kong’s main financial regulator, the Securities and Futures Commission, said it has found “deficiencies” in the selling practices of licensed firms, after completing an inspection of companies selling investment products.
mpf admin fees may be capped
The authority which oversees Hong Kong’s Mandatory Provident Fund fund (MPF) operations is considering capping the fees MPF providers charge their customers, and has retained Ernst & Young to look into the pricing matter, according to a report published this morning.
mpf returns fees vary substantially study
Almost half of some 341 Mandatory Provident Funds surveyed by a Hong Kong consumer body posted negative annualised returns for the last five years, spotlighting the challenge ahead for company employees who next month will begin to have the option of choosing their MPF providers.
hsbc survey reveals decline in wealth growth
One in five Hong Kong investors has seen their net worth decline over the past six months, a survey conducted by HSBC has found.
scams rife in hong kong scmp reports
Financial scams are on the rise in Hong Kong, the South China Morning Post is reporting, in a story which quotes deVere chief executive Nigel Green on what he calls “hard to fathom carbon credits” being sold “to vulnerable consumers”.