In the News: Fund Custody Opening; Margin Lending Crackdown; and FTZ Reforms Nationwide

July 13, 2020 | BY

Vincent Chow

Foreign banks' local branches can apply for fund custody licenses, fulfilling trade deal pledge; China's securities watchdog names and shames illegal margin lenders as fears grow of 2015 market rout repeat; and State Council announces sixth batch of FTZ reform measures to be rolled out nationwide

Foreign bank branches allowed to conduct fund custody business

China has finalized rules allowing foreign financial institutions to enter the fund custody market through their local branches. On July 10, the China Securities Regulatory Commission and the China Banking and Insurance Regulatory Commission jointly published the Measures for the Administration of the Securities Investment Fund Custody Business(中国证券监督管理委员会证券投资基金托管业务管理办法). The new rules were first proposed in May and will now come into immediate effect.

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