China's securities regulator has recently introduced fresh restrictions for financial institutions considering outsourcing fund management to external fund managers, as the government tightens shadow banking. That’s what the official Securities Times informed on Monday
Financial institutions, including insurers and banks have been providing fund management mandates to funds exceeding 1 trillion Yuan to mutual fund houses because they outsource their wealth management operations.
Regulators are concerned that such funds are utilized as a shadow banking channel by many lenders for the purpose of making risky bets in corporate equities or bonds, without efficient management by the external fund house.
In order to prevent this, on Friday, the China Securities Regulatory Commission released rules, requiring funds where single institutions control 50% or more to operate exactly as closed-end funds, and barring them from getting subscriptions from individual investors.
In June, German business confidence slipped to its lowest value for more than a year, thus dropping a hint that the mood among company executives in the EU’s number one economy is worsening as the world is getting closer to a full-fledged trade conflict…
The Australian corporate regulator might require playing a greater role in regulating agricultural finance considering the absence of redress options for borrowers, as it shifted its attention to Australia’s $50 billion farm sector…
In June, American private sector activity speeded down, as follows from survey data uncovered on Friday…
On Monday, Asian shares shook off a sluggish start and stabilized, with Japan outperforming on positive earnings…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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