Chinese authorities have simplified procedures for Taiwan professionals to work in the fund industry and are now offering the exams in English.
Category: Regulation
Hong Kong, Singapore join global reg initiative
HKMA and Mas have joined counterparts in Dubai, Australia, the US and the UK to collaborate on a global innovation network that includes a sandbox to trial cross-border fintech solutions.
Noah: China’s regs will lead to WM shakeout
Despite recent ‘sweeteners’ to the new asset and wealth management guidelines, the wealth management industry will likely consolidate as the new regs are adopted, according to Andrew Xia, chief research officer at NYSE-listed Chinese wealth manager Noah.
Fund houses failing at plain English
A report names and shames asset managers that use the most obscure language, long sentences and jargon on their websites.
Obstacles to foreign control of China JVs
Only a small number of large foreign asset managers are expected to apply for approval to hold a controlling stake in a Chinese asset management joint venture, according to Sean Hung, senior analyst at Moody’s Investors Service.
Credit Suisse to pay $47m to end Asia hiring probe
Credit Suisse has agreed to pay a penalty of $47m to the US Department of Justice (DOJ) to end an investigation into whether it hired employees in Asia in return for investment banking business and regulatory green lights.
HK moves on discretionary disclosure
New disclosure rules issued by the Securities and Futures Commission for discretionary accounts are seen as a positive move toward increasing transparency for investors, according to industry sources.
SFC fines Noah HK$5m over client risk control
Wealth manager Noah Holdings was fined by Hong Kong’s regulator for failure to comply with several requirements, including KYC and due diligence matters.
MAS bans six in misconduct sweep
Banned from providing financial advice services in Singapore are former Citibank, Prudential and AIA employees after they were found to have mis-sold investment products.
Taiwan relaxes robo-advisory rules
Taiwan’s regulator plans to relax rules from July this year in order to attract more offshore robo-advisory services.
