SFC launches probe into Hong Kong investment advisors
Separately, it has suspended the licence of Ernest Maude director Andrew Eden.
The investment advisory world is under renewed pressure in Hong Kong. So far, the biggest blow has been Towry Law's closure to new business in the wake of a mis-selling scandal. This involved leveraged 'with-profits' products that left investors penniless instead of protecting capital.
Now the SFC has launched what a spokesman calls a "theme-focused inspection" round of 10 investment advisors that will look into their conduct. The 10 firms were selected either because they have bee…
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