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Fund houses oppose HK's vague rules on referrals

Richard Newell
Both fund managers and financial advisers believe the territory needs to update its regulation of business referrals, which has left many companies operating in a legal grey zone.
Fund houses oppose HK's vague rules on referrals

Fund houses and investment advisers operating in Hong Kong are transacting with business referrers that are unlicensed and technically illegal due to badly out of date rules, say market insiders.

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