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POLITICS & LAW

Asset Management Rules Extend Grace Period

The rules were jointly published by the People’s Bank of China, the newly formed banking and insurance regulator, the securities watchdog and the State Administration of Foreign Exchange. Photo: VCG
The rules were jointly published by the People’s Bank of China, the newly formed banking and insurance regulator, the securities watchdog and the State Administration of Foreign Exchange. Photo: VCG

* The grace period for compliance is extended by 18 months to the end of 2020

* The rules set requirements on leverage ratios, risk reserve funds and investment restrictions covering all asset-management products

China on Friday published the final version of unified regulations for the country’s rampantly growing asset-management industry, pushing back the deadline for compliance by a year and a half.

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