Jeremy Lam, investment funds partner, was recently interviewed by Ignites Asia, an FT publication, regarding the SFC’s recent proposals to improve fund distribution fee disclosure.
He commented: “The SFC has taken a measured approach in setting forth its proposals. Equally, it presents an opportunity for those advisors who really are prepared and want the badge of independence.”
There is an element of distrust that has developed around the global financial services industry in recent years, which is perceived as being overly paid, not being transparent enough on disclosure, and having conflict-of-interest issues, said Jeremy.
Although the proposed changes might make it difficult for some intermediaries, what is needed in the eyes of underlying investors is for some advisors to stick their necks out and state that they are only connecting with the interests of clients, he added.