Hong Kong’s asset managers face heightened scrutiny later this year when the new Fund Manager Code of Conduct (FMCC) comes into force, and while the new rules are a necessary step in enhancing the region’s market integrity, the task ahead could be arduous for some.
Sexual harassment allegations have dominated headlines over the last six months with fresh controversies and misconduct cases emerging almost daily, and now the fallout is making its way from the gossip pages to the boardroom as concerns of impact on bottom line rise up the corporate agenda.
Singapore has jailed its second individual for market manipulation in a year, signaling an increasingly hardline approach to enforcement and sending a message that the need for better compliance defenses has never been greater.