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Legal Update

Hong Kong Tightens Controls over Sales of ILAS Products

24 July 2013
Mayer Brown Legal Update
Hong Kong regulators have tightened regulatory controls over the sale of Investment-Linked Assurance Schemes (ILAS) by imposing further requirements including commission disclosure, Key Facts Statement and customer's declaration, as well as post-sale controls. These new requirements are aimed at enhancing customers' understanding of the risks and features of ILAS in an attempt to better protect customers.
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