CSRC seeks to curb banks’ outsourcing of bond mandates

China’s securities watchdog is said to have issued new rules on applications for new fund products design to package commercial banks’ exposure to bonds, amid concerns about rising liquidity risk. The aim is to protect retail investors’ interests and ensure the independence of fund managers. The China Securities Regulatory Commission (CSRC) is seeking to monitor liquidity risks associated with a new wave of outsourcing by banks. It reportedly issued an internal notice last week as…