Asia
HK regulator brings in fee disclosure for fund managers
Hong Kong’s Securities and Futures Commission now requires fund managers to disclose the ongoing charges figure (OCF) on their funds’ key facts statements (KFS), according to a circular from the regulator.
Aus bank boss nabs pay rise despite fleecing advice clients
At a grilling in parliament on Friday, the chief executive of the National Australia Bank revealed its head of financial planning had received a 36% pay rise even after it emerged customers had been charged A$34.7m ($26m, €25m, £21.5m) for advice they did not receive.
Do Hong Kong investors receive value for their fund fees?
Some of the most expensive funds available to Hong Kong investors deliver less than stellar returns.
Regulations to revamp Malaysia’s life sector, says Zurich
Malaysia’s life insurance industry, traditionally dominated by agency business, is set to see “rapid changes” once the country brings wide-ranging regulatory measures, according to Philip Smith, chief executive of Zurich Malaysia Bhd.
China’s bank regulator to close loopholes, increase oversight
The freshly appointed chairman of the China Banking Regulatory Commission (CBRC) has vowed to close cross-market financial product loopholes and tighten oversight of the nearly CNY30trn (£3.5trn, $4.4trn, €4.1trn) held in Chinese banks’ wealth management products.