US ethics watchdog hails SFC plan

A plan by the Securities and Futures Commission to tighten rules on investment-linked insurance products will bring the city into line with international efforts to prevent mis-selling and promote investor protection, according to an international financial planning expert.

Noel Maye, the chief executive of the Financial Planning Standards Board (FPSB), a US non-profit organisation that sets qualifying examinations and ethical standards for financial planners worldwide, said many Western countries had since 2008 enforced tougher disclosure requirements for salespeople.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1220202/us-ethics-watchdog-hails-sfc-plan