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Regulatory Principles / Objectives

With clients’ assets under management, asset management companies are subject to the SEC supervision with focuses on fiduciary duties, good corporate governance practices and regulatory compliance. The organizational structure should accommodate robust operation, efficient internal control and prudent management of clients’ assets, all in compliance with the following principles: 


1. Duty of Loyalty


Asset management companies must act for the best interest of clients by, for example, applying knowledge and professional expertise at all times, diversifying client portfolios to minimize risk of loss, treating clients fairly, refraining from any act that may cause conflicts of interest, and disclosing sufficient information for clients’ decision making.


2. Duty of Care


Asset management companies must perform duties with care and prudence, assign personnel who have knowledge, capabilities and skills suitable for their roles, make well-informed investment decisions based on reliable and sufficient information, and apply a check and balance system to guard against errors or frauds. 


Assigned fund managers must make investment decisions in accordance with the policies and objectives of the investment schemes as approved by the SEC. They must have relevant skills and experiences, code of conduct, and are not subject to statutory disqualification.


3. Duty to disclose 


Asset management companies must disclose information sufficient and material to investment decision-making in a timely manner, while investment consultants must provide fair and professional services suitable for clients’ profile.   



Last updated on 28 October 2013
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