China application boom “pressuring” HK SFC

The rising tide of Chinese fund managers seeking licences to operate in Hong Kong is putting pressure on the resources of the city’s securities regulator, amid difficult times for the local investment industry, according to a compliance specialist. The total of mainland private fund firms has soared to 30,000, estimates the Asset Management Association of China, though admittedly a significant number of these will be shell companies or not true asset managers, which mainland autho…