All posts tagged "Wealth Management"
-
193Capital RegulationCBIRC Finalises Net Capital Rules for Banks’ Wealth Management Units
The regulator has fixed the minimum net capital for commercial lenders' wealth management subsidiaries at 500 million yuan, and at least 40 percent of the net assets.
December 6, 2019 -
308EnforcementUBS to Pay HK$600m in Fines and Compensation for Overcharging Clients
The SFC reprimanded and fined UBS for overcharging clients over a ten-year period, affecting 5,000 Hong Kong-managed client accounts in over 28,000 transactions.
November 12, 2019 -
701ChinaChina, Hong Kong to Establish Wealth Management Connect Scheme
The scheme will enable residents of Hong Kong and other GBA cities to invest in wealth management products in each other’s market through their respective banking systems.
November 7, 2019 -
304ChinaCBIRC Tightens Oversight on Structured Deposits Sold by Banks
Banks can only offer structured deposit products if they have derivatives trading licences, and they must ensure the sales process is done in a "legally compliant manner".
October 24, 2019 -
503Enforcement
UBS Identifies ‘Inappropriate Spreads’ Charged to HK, SG Clients
UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.
October 24, 2019 -
264ChinaMore Shanghai Bank Executives Assisting in Corruption Probes
The current and former Shanghai chiefs of Ping An Bank and the Suzhou branch head of China Guangfa Bank are assisting in an anti-graft probe linked to former CSRC chairman Liu Shiyu.
October 23, 2019 -
1.4KAML / KYCNTU Singapore to Develop New Tools to Fight Money Laundering
Supported by the MAS and Singapore's major banks, the project seeks to help wealth managers address money laundering risks with new AI and machine learning capabilities.
August 22, 2019 -
1.4KChinaChina Announces 11 Measures to Open Up Financial Sector
The measures ease restrictions on foreign investment in securities firms, asset management companies, FX brokerage, insurance and pension management, among others.
July 22, 2019 -
896Hong KongSingapore Bankers ‘Flooded’ With Inquiries from Hong Kong – Reports
Following Hong Kong's extradition bill protests, wealth managers and private banks have seen increased queries from clients looking to set up channels to move assets to Singapore.
July 16, 2019 -
784ChinaCBIRC Green-Lights Three City Commercial Banks’ WMP Units
Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.
July 5, 2019
