SFC defends structured products policies

Author: | Published: 19 Nov 2009

The Securities and Futures Commission (SFC) has defended its approach and explained the key findings of its structured products-related enforcement of the last 12 months.

Speaking at the Asia Capital Markets Forum on November 19, Mark Steward, the SFC’s executive director for enforcement, explained why the commission focussed on senior management’s roles in selling products. “We weren’t looking at the interface between sales staff and customer. That’s too difficult because it occurred some time ago and it’s hard to know what was said during the transaction. Senior management is the primary concern,” said...