The Securities and Futures Commission announced new enhancements to the Cross-boundary Wealth Management Connect Pilot Scheme to foster closer communication between participating licensed corporations and their clients.
Key arrangements include allowing licensed corporations to obtain one-off written consent – valid for up to one year – from Southbound Scheme clients who are not physically in Hong Kong, thereby enabling them to explain product information based on each client’s needs and selected product categories.
Upon the request of clients, licensed corporations’ mainland partner brokers within the same groups can arrange online three-party dialogues where they can explain product information to their clients.
With one-off written consent from clients, licensed corporations can also provide their clients with research reports on individual investment products, the SFC said.
The above arrangements also apply to the Northbound Scheme.
