Legislation roundup: Asset management, trade forex reforms and interbank bond markets
August 16, 2012 | BY
clpstaff &clp articlesThe CSRC has released Measures opening up the wealth management sector to futures companies, while SAFE has issued an Announcement removing verification procedures of foreign exchange received from exports.
Wealth management
China Securities Regulatory Commission, Measures on the Pilot Asset Management Business of Futures Companies
The first group of 17 futures companies will be able to tap into the wealth management sector under the pilot scheme of the CSRC starting from September 1. The initial entrusted assets of a single client may not be less than Rmb1 million and may be invested in securities investment funds, pooled asset management plans, futures, options and other financial derivatives.
See the digest for more details.
Further reading
Provisions on Issues Relevant to Changes in the Registered Capital or Equity of Futures Companies, Sept/Oct 2012
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