Caixin
Sep 29, 2018 12:32 AM
FINANCE

Securities Regulator Restricts Offshore Financial Branches

The China Securities Regulatory Commission ordered financial institutions to strengthen oversight of foreign units. Photo: VCG
The China Securities Regulatory Commission ordered financial institutions to strengthen oversight of foreign units. Photo: VCG

Chinese securities regulators are stepping up scrutiny of domestic brokerages and fund managers that have subsidiaries abroad to mitigate risk as more financial institutions set up offshore branches.

The China Securities Regulatory Commission (CSRC) ordered financial institutions to strengthen management of their units abroad, according to a new regulation released Friday. Such subsidiaries should not conduct non-financial business, the agency said.

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