Among the proposed rules are a requirement that an asset management firm inject at least RMB 10m ($1.5m) into mutual funds that levy a performance fee.
Category: Regulation
SFC CEO hopes to break PB grip on fund distribution
Ashley Alder, the CEO of Hong Kong’s Securities and Futures Commission, took a swipe at bank distributors while professing optimism for the mutual recognition of funds (MRF) scheme, which he aims to expand.
ETF firm VanEck receives RQFII quota
US ETF manager VanEck Investments and BOB Scotia International Asset Management are among the firms that received RQFII and QFII quotas for the first time.
Singapore fines Credit Suisse and UOB for AML breach
The Monetary Authority of Singapore (Mas) has fined Credit Suisse and United Overseas Bank (UOB) and issued prohibition orders against three people following a two-year investigation into scandal-plagued wealth fund 1Malaysia Development Berhad.
Reg delays slow Philippine fund industry
Local fund managers in the Philippines are still waiting for a series of key regulatory changes that could drive industry growth, according to Valerie Pama, Manila-based president of Sun Life Asset Management in the Philippines.
China sets up fund industry courtroom
China’s first court specialised in judging cases involving the fund industry is aimed at tighter scrutiny of the financial industry.
HK puts China’s AM applications on watch
“Responsible officers” listed on an increasing number of mainland asset management firm applications will get tougher scrutiny from the Hong Kong’s Securities and Futures Commission, according to Julia Leung, the SFC’s executive director for intermediaries.
Hong Kong and UK sign fintech agreement
The Hong Kong Securities and Futures Commission (SFC) and the UK’s Financial Conduct Authority have entered into a co-operation agreement to support fintech innovation.
HK proposes new security guidelines for online trading
Hong Kong’s Securities and Futures Commission (SFC) is proposing new cyber security control practices to reduce and mitigate hacking risks associated with internet trading.
HK’s new guidelines for online platforms and robo-advisors
Hong Kong’s Securities and Futures Commission proposed additional protective measures for selling ‘complex’ products via online distributing platforms and for providing robo-advisory services.
