China is a step closer to amending the country’s current law governing the fund management industry. The China Securities Regulatory Commission sent a consultation paper on the draft of the revised fund law to fund management companies in late January. The consultation paper outlines details of the planned changes in the current fund law.
Although the planned changes were previously known, some details have caught the attention of the fund industry.
One of the hot topics in the paper is the plan to allow fund managers to trade equities and derivatives for personal accounts. They are currently prohibited from doing this, but the proposals would allow them to do so with declaration and supervision.
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