New guidelines from the regulators in Hong Kong will enable private wealth managers to streamline processes when dealing with sophisticated professional investors (SPIs).
Private wealth managers will need to assess their clients first to ensure they meet the criteria and carry out regular eligibility reviews. But once these conditions have been met, SPIs and private wealth managers will enjoy a more straightforward and efficient process.
This flyer summarises the key elements of the guidance including qualifying criteria, the changes to requirements under the streamlined approach, eligible transactions, and the client agreement. It also includes some advice on what private wealth managers should do now to ensure that they enjoy the benefits of the new regime.
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