Five members of the advisory firm deVere’s Hong Kong team have been offering client’s advisory services without possessing license, South China Morning Post claims.
The investigations by the publication reveal that deVere staff Matthew Bond, David Hubbard, Tom Rogerson and Jason Ryder are not Hong Kong Confederation of Insurance Brokers (CIB)-licensed, nor is area manager and head of Hong Kong operations Edward Rice.
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As deVere is licensed by the Hong Kong CIB, every employee giving advice to clients must also be licensed by the CBI also.
deVere spokesperson, George Prior, challenged , the publication’s assertions saying that none of the five are client facing and therefore do not require a license.
Prior added that the company representatives are ‘appropriately qualified and work within the guidelines developed by the regulator.
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