Thailand’s Securities and Exchange Commission (SEC) has issued a regulation allowing asset managers to set-up hedge fund-like products for domestic institutional and high-net-worth investors.
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.
Hong Kong’s Securities and Futures Commission will now require fund managers to disclose the ongoing charges figure (OCF) on their funds’ key facts statements (KFS), according to a circular from the regulator.
Guo Shuqing, the newly-appointed chairman of the China Banking Regulatory Commission (CBRC), has vowed to close cross-market financial product loopholes and tighten oversight of the nearly CNY30trn ($4.4trn) held in Chinese banks' wealth management products.
Hong Kong’s Securities and Futures Commission is proposing to relax rules on determining whether a person is a HNW professional investor.
The Securities and Futures Commission has banned Li Lee from re-entering the industry for life for making false claims to her former employer, HSBC.
Guaranteed funds in the mainland, worth RMB 320bn ($46.5bn), will be called “risk-hedging strategy funds” to reflect potential risks, according to the new guidelines released by the China Securities Regulatory Commission.
The Chinese regulator put a stop to `client service fees' paid by fund management firms to third-party sales agencies that introduce new institutional clients.
Coutts must pay out $6.55m (CHF 6.5m) for serious breaches of anti-money laundering rules in connection with the scandal-torn Malaysian 1MDB sovereign wealth fund.