Robo-advisers hit KYC roadblock in Asia

Robo-advisers have hit a roadblock in the form of know-your-customer rules in Hong Kong and Singapore, which do not allow the direct purchase by retail investors of offshore products such as exchange-traded funds. This is not the only obstacle to the take-up of automated investment services, but it heavily restricts what they can do – and the regulations need to change, argue industry players. Take the recent experience of one unnamed robo-adviser, which was offering US listed e…