Featured Product

    CSRC Proposals on PE Asset Management Business of Securities Firms

    July 20, 2018

    CSRC published consultations on the "Management Measures for Private Equity Asset Management Business of Securities and Futures Operating Agencies (Draft for Comment)" and "Regulations on the Operation and Management of Private Equity Asset Management Plan of Securities and Futures Operating Agencies (Draft for Comment). The draft regulations prohibit securities firms and fund managers from providing “channeling” services to banks, as such services could help banks to evade investment controls. Comments are due by August 19, 2018.

    These proposed rules are based on the current regulatory requirements for the system integration of private equity management business of securities and futures operating institution, and fully implements the relevant requirements of the “Guiding Opinions on Regulating Asset Management Business of Financial Institutions," which were issued on April 27, 2018. These regulations are intended to be released as a supporting guideline for the “Guiding Opinions.” A spokesperson of CSRC said that most of the new regulations on asset management business have been implemented since 2016. These regulations are intended to promote a smooth transition of the stock and asset management business of securities and futures operating institutions, to further improve the compliance management and risk control level of the private equity management business of securities and futures operating institutions, to effectively protect the legitimate rights and interests of investors, and to prevent systemic risks. CSRC will carefully study the feedback from all parties and release it as soon as possible after further improvement.

     

    Related Links (in Chinese)

    Comment Due Date: August 19, 2018

    Keywords: Asia Pacific, China, Securities, Asset Management, Channeling Services, CSRC

    Related Articles
    News

    BOE Article Explains Process for Bank Authorization in UK

    BoE published an article, in the Quarterly Bulletin for the third quarter of 2019, on how banks are authorized in the UK.

    September 20, 2019 WebPage Regulatory News
    News

    HKMA on Commencement of Regulatory Regime Under Insurance Ordinance

    HKMA announced the commencement of new licensing and regulatory regime for insurance intermediaries under the Insurance Ordinance from September 23, 2019.

    September 20, 2019 WebPage Regulatory News
    News

    APRA Revises Standard on Margin Rules for Uncleared Derivatives

    APRA revised CPS 226, which is the prudential standard on margin and risk mitigation requirements for non-centrally cleared derivatives.

    September 19, 2019 WebPage Regulatory News
    News

    SEC Adopts Rules and Amendments Under Regulatory Regime for Swaps

    SEC announced that it took a significant step toward establishing the regulatory regime for security-based swap dealers (SBSDs) by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Act.

    September 19, 2019 WebPage Regulatory News
    News

    FCA Welcomes ISDA Protocol on Narrowly Tailored Credit Events

    FCA published an update to its initial joint statement with the U.S. SEC and CFTC on opportunistic strategies in the credit derivatives markets.

    September 19, 2019 WebPage Regulatory News
    News

    PRA Issues Consultation on Prudent Person Principle Under Solvency II

    PRA, via the consultation paper CP22/19, has set out its proposed expectations for investment by firms, in accordance with the Prudent Person Principle (PPP).

    September 18, 2019 WebPage Regulatory News
    News

    PRA Proposal on Probability of Default and LGD Estimation

    PRA proposed, via the consultation paper CP21/19, an approach to implementing EBA’s recent regulatory products relating to Probability of Default (PD) estimation, Loss Given Default (LGD) estimation, and the treatment of defaulted exposures in the internal ratings-based (IRB) approach to credit risk.

    September 18, 2019 WebPage Regulatory News
    News

    BIS Formalizes Agreement to Set Up Innovation Hub in Hong Kong SAR

    BIS and HKMA signed the Operational Agreement on the BIS Innovation Hub Center in Hong Kong Special Administrative Region (SAR).

    September 18, 2019 WebPage Regulatory News
    News

    APRA Observations from Thematic Review on Recovery Plans of Insurers

    APRA issued a letter to general insurers and life insurers, outlining observations from a recent thematic review on recovery planning by insurers.

    September 18, 2019 WebPage Regulatory News
    News

    BNM Publishes Financial Stability Review for the First Half of 2019

    BNM published Financial Stability Review for the first half of 2019.

    September 18, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3853