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Economic news

China regulator publishes internal control rules for wealth management companies

04/29/2022

Less than a minute

2022.04.29 12:15

China regulator publishes internal control rules for wealth management companies
FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter

SHANGHAI (Reuters) – China’s banking and insurance regulator on Friday published draft rules regulating internal control and management at wealth management companies.

Such rules included that wealth management companies should not use funds to conduct improper transactions with related parties, transfer of benefits, insider trading or market manipulation, according to an online statement.

Source

04/29/2022

Less than a minute