Tag: csrc

Despite the fanfare from QDII ETF issuers and the Shanghai Stock Exchange, these products are unlikely to achieve the lofty aims set for them. The much-anticipated China-Taiwan MoU has been signed, but Taiwanese fund houses have yet to meet basic requirements to apply for QFII status, or take up QDII portfolio adviser ... Shang Fulin, chairman of the China Securities Regulatory Commission, emphasises the need for structural transformation in China’s fund industry. E-Fund and China Merchants are first to launch new QDII funds after a 17-month drought. Is ICBC Credit Suisse to be the last of the great bank joint-venture deals in China? With uncertainty looming over the renewal of bank JV licence rules, such partnerships may ... China's hard-hitting overhaul of the investment management industry looks set to be watered down. Fund houses in China have been told to keep an eye out for customers whose names might be on the state's list of terrorists, criminal suspects, convicted criminals and enemies. UBS Global Asset Management and Goldman Sachs are exploring whether they can participate in ‘collective investment management’ schemes in China. Compulsory registration and licensing will be required for fund advisory and rating providers. But a few innocent bystanders are likely to be affected. China Universal and E-Fund may be the last to launch active QDII strategies, as a host of passive and ETF products line up at Safe's door. In October, China's National People's Congress will review a substantial reform of the fund laws proposed by the CSRC. The latest clash in party factions ushers in a risk manager at the helm of the CSRC's fund supervisory division. Deutsche Bank is to set up a securities joint venture with Shanxi Securities, while Credit Suisse and Founder Securities will form a JV to underwrite Chinese stocks and bonds. China’s securities regulator stresses the importance of good disclosure and corporate governance. Officials from the CSRC, CBRC and CIRC have met with counterparts in Taiwan’s FSC. Market watchers expect a deal to be finalised by mid-2009. Details about China's imminent securities lending and margin financing scheme emerge to show a carefully controlled process. As western countries vilify the practice of short selling, China agrees to allow more complex trading strategies. Distribution has always been regarded as the weakest link in China’s booming fund industry; now the CSRC is seizing supervisory power over the sector from the CBRC. The securities regulator holds off on approving job changes for the CEOs of Guotai Junan Allianz and Fortune SGAM until after the Olympics. Financial institutions, beginning with securities companies, can now invest as principals, laying the groundwork for a domestic private-equity industry.