Legislation roundup: Fund management companies and lawyers law

November 02, 2012 | BY

clpstaff &clp articles

The China Securities Regulatory Commission has issued Provisions allowing fund management companies to set up subsidiaries for client asset management businesses, while the National People's Congress has amended the Lawyers Law

Fund management companies

China Securities Regulatory Commission, Tentative Provisions for the Administration of the Subsidiaries of Securities Investment Fund Management Companies

中国证券监督管理委员会证券投资基金管理公司子公司管理暂行规定

Fund management companies are allowed to set up wholly-owned or joint venture subsidiaries to engage in specific client asset management business. The registered capital of a subsidiary may not be less than Rmb20 million.

See the digest for more details.

Further reading:

Measures for the Administration of Securities Investment Fund Management Companies (Amended), Nov/Dec 2012

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