Selling of investment products to retail customers

Our Ref.:

B1/15C

11 December 2008

The Chief Executive
Registered Institutions that have not received letter of 23 October 2008

Dear Sir / Madam,

Selling of investment products to retail customers

I am writing to draw your attention to a letter issued by the Hong Kong Monetary Authority to a number of retail banks on 23 October 2008. The letter reiterates the general requirements for authorized institutions that sell securities and investment products, and some key issues that should be observed when selling these products to retail customers. The requirements set out in the attached are also applicable to your institution in the selling of securities and investment products to retail customers.

Yours faithfully,

Nelson Man
Executive Director
(Banking Supervision)

Encl.

Letter issued by the Hong Kong Monetary Authority to a number of retail banks on 23 October 2008 (PDF file, 259KB)