Tag : kyc

Hong Kong's Private Wealth Management Association is speaking with the city's regulators about making the account-opening process for wealthy mainlanders more efficient.

The outgoing chairman for Asia of Nikko Asset Management suggests the amount of regulatory compliance attached to fund sales is preventing the industry from moving forward.

With regulatory and efficiency pressures bearing down on brokers, more are turning to standardised procedures and centralised platforms when onboarding new clients, according to a regional risk expert.

The Indian regulator found excessive churning of funds managed by the bank in a complainant's portfolio, but said no further action would be taken as a settlement had been reached.

Custodians will have more power in securing first-time foreign investment under the proposed Foreign Portfolio Investment regime in India, but are seeking a more defined role.

South African Sanlam's $111 million share purchase in an Indian firm has drawn attention to the appeal of the country's QFI scheme, offering foreign investors quicker time to market.

Finance Minister P. Chidambaram tells AsianInvestor that streamlining technical barriers for foreign portfolio investors is a priority.

The French firm did not comply with regulations on treating clients as professional investors nor keeping adequate records of investment advice to customers between 2004 and 2010.