In the report, published this morning, the SCMP said that as the organisation is licensed by the Hong Kong Confederation of Insurance Brokers, any staff giving advice must also be licensed by the CBI also.
However, the SCMP said five members of deVere’s Hong Kong team, including Matthew Bond, David Hubbard, Tom Rogerson and Jason Ryder as well as area manager and head of Hong Kong operations Edward Rice, are not.
In the article, deVere spokesperson, George Prior, disputed the newspaper’s assertions, explaining that none of the five are client facing and therefore do not require a license.
He is reported to have added that all company representatives are "appropriately qualified and work within the guidelines set by the regulator".
International Adviser has contacted deVere for further comment.