The Chinese financial regulator has approved Amundi’s Asia-focus equity fund for sale onshore under the Mutual Recognition of Funds (MRF) program.
Category: Regulation
MAS steps up rule enforcement
The Monetary Authority of Singapore (MAS) will be sending mystery shoppers to financial advisers as part of its efforts to boost enforcement, according to Merlyn Ee, the regulator’s executive director for capital markets intermediaries.
Regulators grant QFII quota and licences
First State and BOCHK received licences and US asset manager Hall Capital was granted QFII quota in June, according to China’s regulatory agencies.
China again delays tax on asset managers
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
Singapore prefers public shame, not fines
Singapore’s decision not to impose the same hefty fines on banks linked to 1MDB as other countries, but to instead name and punish individuals responsible, is a strong deterrent, said Ravi Menon, managing director of the city-state’s financial regulator.
HK sets exam waiver for AM licenses
Hong Kong’s Securities and Futures Commission is smoothing the way for more asset management licenses by relaxing some regulations.
Former JPMorgan VP in HK disciplined by SFC
Fok Chi Kin, a vice president at JPMorgan Funds (JPF) until April 2016, was temporarily banned from re-entering the industry for transferring proprietary information and client data to a new employer.
Rothschild fined €9m over 1MDB failings
Swiss private bank Edmond de Rothschild has been fined nearly €9m ($10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.
Stricter suitability requirements to roll out in China
All products that mainland Chinese can invest in will have to meet newly-introduced suitability requirements starting July 1.
US seeks $1.7bn from 1MDB fund scandal
The US Department of Justice (DOJ) is working to recover around $1.7bn in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).
