Moreover, there are compliance issues that differ across regions, so financial advisers with clients who have assets or investments in Hong Kong may need to navigate international compliance issues.
They must ensure their clients’ financial activities are in compliance with both Hong Kong’s NSL and the laws and regulations of their home countries, which may have restrictions on dealings with Hong Kong.
In short, Green said, navigating cross-jurisdictional financial advising in Hong Kong will require a deep understanding of international regulations, a proactive approach to compliance, and adaptability in the face of changing legislation.
Working with international advisers or those based in the region may help overcome some of these complexities and mitigate potential risks.
Green added: "As financial advisers, we need to prioritise client education, risk mitigation, and the development of strategies that accommodate clients’ global financial interests.
"By doing so, we can continue to provide valuable services and help clients safeguard and grow their wealth in a dynamic and evolving financial landscape."
Simoney Kyriakou is editor of FTAdviser.com
