Legal
New rules force closure of about 10,000 Chinese private wealth management firms in six months
About 10,000 private wealth management firms have been shut down in China since early February, after it tightened entry norms for firms in a bid to check the rising defaults and fraud in the insufficiently regulated sector. Private wealth management firms, called “private fund raising companies” in China, are essentially…
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Click here to read the full story: South China Morning Post