SFC Rules: Five Things to Watch Out for Wealth Managers

5. Singapore Response?

(Image: Lily Banse, Unsplash)

Rival wealth management center, Singapore, has yet to respond. Earlier this year, it had implemented a revised accredited investor (AI) regime to include consent for retail-leveled protection where desired by a client – a less pervasive approach especially for sophisticated investors in Hong Kong that merely lack the size or structure to be considered institutional or corporate professional investors (PI).

Many expect no response to follow as this last change could technically already encompass and fulfill any need for additional investor protection, in contrast with Hong Kong which now has a three-tier sales process.