Asia
Just Service Group partners with Montpelier China
Fintech firm Just Service Group has inked a partnership deal with advisory firm OFS Asia, better known as Montpelier China, which it describes as one of Asia’s oldest established IFA businesses.
Hong Kong regulator restricts use of ‘independent’
Hong Kong will introduce a code of conduct that will restrict asset management intermediaries from being able to use the term “independent” if they receive benefits from other parties.
Hong Kong advisers says no to fee-based model
A majority of the industry responding to the SFC’s proposal on “enhancing industry regulation” were against introducing the fee-based model in Hong Kong.
The plus and minus of China’s new foreign ownership rules
China recently announced it would ease foreign ownership limits for fund management firms, but huge challenges await foreign players that want to enter China’s retail investor market, industry sources said.
China to allow full foreign ownership of insurance companies
In a move to grow its status as a major global finance hub, the Chinese government has announced it will raise foreign ownership limits in insurance companies to 51% in three years’ time, while full foreign ownership will be allowed in five years.