HK regulators urged to expedite China HNWI onboarding

Hong Kong’s regulators must simplify an onerous account-opening process that unfairly disadvantages Chinese high-net-worth investors (HNWIs) if they are to maximise the city’s potential for wealth management, according to Hong Kong's Private Wealth Management Association (PWMA). Wendy Tsang, vice chair of the PWMA, said the industry body has asked the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) how to ease the level of registration that Chin…