Minsheng Royal Asset Management, the mainland's second biggest segregated-account subsidiary, has received a six-month ban, as Beijing starts consulting on tighter capital rules.
Tag : sa subsidiaries
Proposed rules are expected to further curb the growth of wealth management products in China by restricting the instruments banks can buy, with WMP returns tipped to fall.
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.
