All posts tagged "Wealth Management"
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53ChinaCBIRC Issues New Rules for Cash Management Products
Cash management products are prohibited from investing in stocks, convertible bonds, or any financial instrument rated lower than AA+.
June 17, 2021 -
114ChinaCredit Risk, Shadow Banking Present Ongoing Concerns: CBIRC
CBIRC chairman Guo Shuqing has highlighted credit risk, shadow banking, illegal fundraising, and derivatives trading as key sources of financial system risk.
June 15, 2021 -
72ChinaBlackRock Wins Approval to Launch China Fund Business
BlackRock is the first foreign asset manager to win approval to launch a wholly-owned mutual fund business in China.
June 12, 2021 -
79ChinaShanghai Maps Out Plans to Become Global Wealth Hub
Shanghai will further open up to foreign investors and new financial services products will be introduced, including various derivatives products.
May 31, 2021 -
135China
CBIRC Finalises Rules on the Sale of Wealth Management Products
The rules take effect from 27 June, with a new six-month transition period before full compliance is required.
May 31, 2021 -
286ChinaRegulators Order Tencent to Establish Financial Holding Company
Like Ant Group, Tencent will have to submit a reorganisation plan to regulators specifying which businesses the new financial holding company will absorb.
May 27, 2021 -
98ChinaCBIRC Approves Goldman Sachs Wealth Management JV
Preliminary approval will allow Goldman Sachs Asset Management to own a 51 percent stake in the joint venture with ICBC Wealth Management.
May 26, 2021 -
329ChinaCBIRC Penalises Five Banks for Regulatory Violations
Huaxia Bank, China Bohai Bank, Bank of China, China Merchants Bank and Bank of East Asia's China branch were fined a total $56.9mn.
May 24, 2021 -
135China
CBIRC 2020 Penalties Show Emphasis on Personal Accountability
The CBIRC issued $350mn in fines against 3,178 banks and insurance firms in 2020. The number of individuals punished rose by about 30% from 2019.
May 22, 2021 -
136China
CBIRC Green-lights BlackRock-CCB Wealth Management Venture
The wealth management JV is 50.1% owned by BlackRock, 40% by China Construction Bank's wealth management subsidiary, and 9.9% owned by Temasek.
May 14, 2021
