China tightens rules on segregated account business
Authorities set out risk-control requirements and guidance for parent fund firms for their SA subsidiaries, a fast-growing segment that forms part of China's shadow banking industry.
China’s funds industry watchdog has set out risk-control requirements for segregated account (SA) subsidiaries and provided guidance on fund houses’ responsibilities as controlling shareholders for the first time to better regulate this booming segment.
The Asset Management Association of China (Amac), a self-regulatory body operating under the China Securities Regulatory Commission (CSRC), issued a notice on December 7.
It requires all fund houses and SA subsidiaries to hire li…
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