Royal Skandia to extend its statement of understanding

Royal Skandia is to require all its intermediaries to obtain a signed statement of understanding by ...

Royal Skandia is to require all its intermediaries to obtain a signed statement of understanding by clients on the purchase of new products by early next year. It has also reconstructed the Managed Savings Account (MSA) and the Managed Pension Account (MPA). The signed statement by clients from intermediaries, which is already a market requirement in Hong Kong, requires an adviser's client to certify they understand the product they are buying. Royal Skandia aims to extend this business practice to all its business. An intermediary would have to demonstrate the service they ar...