All posts tagged "Wealth Management"
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483ChinaHKMA, PBOC Collaborate on Cross Border Financial Services – Report
As part of a plan to develop the Greater Bay Area, the HKMA and PBOC are reportedly planning to work together on the introduction of cross-border mobile payments and other financial services.
February 20, 2019 -
356ChinaCBIRC Green-Lights a Fifth Bank’s Wealth Management Subsidiary
ICBC has become the 5th bank to receive approval to set up a wealth management subsidiary, through which it can channel WMP funds into the stock market.
February 18, 2019 -
535Australia & NZNAB Chief Steps Down Amid Royal Commission Criticism
Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.
February 8, 2019 -
289AML / KYCChinese Supreme Court Directs Police on Illegal Fundraising Crackdown
Police officers found to be negligent in enforcing against illegal fundraising through online channels could face criminal charges.
January 31, 2019 -
827ChinaUPDATED – China’s Asset Management Sector Set for Shake-Up
Up to 22 banks have announced plans to set up new wealth management subsidiaries which could end up taking market share from asset management firms.
December 28, 2018 -
352ChinaCBIRC Issues Rules for Banks on Wealth Management Subsidiaries
Wealth management subsidiaries set up by commercial banks can directly invest funds from wealth management products into the stock market.
December 4, 2018 -
299China
China Publishes Draft Rules on Bank WMP Business
New rules are designed to standardise the sector including by strengthening supervision, preventing shadow banking risks, improving leverage controls and protecting investors' interests.
July 23, 2018 -
239AML / KYCSFC Fines Wealth Manager Noah Holdings for Internal Control Failures
The firm was fined HK$5mn for failures in client risk profiling and product due diligence, resulting in potentially unsuitable investment products being sold to clients.
May 30, 2018 -
226ChinaShanghai to Allow Foreign Banks to Set Up Branches, Subsidiaries
China will allow foreign banks to set up branches and subsidiaries in Shanghai amid a host of measures to further open up the city’s financial sector.
May 17, 2018 -
258China
Chinese Government Approves WMP Clampdown
New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.
March 30, 2018
