China Securities Regulatory Commission to regulate brokerage fund overseas inves
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On Friday, the China Securities Regulatory Commission solicited opinions on the management of securities companies and fund companies overseas. The new regulations require securities companies and funds to guide foreign subsidiaries to concentrate on strengthening and strengthening the main business, clean up the streamlined business system, and enhance compliance with internal control and risk management.
Chang Depeng, a spokesman for the China Securities Regulatory Commission, told the news conference that in recent years, the number and business scale of overseas institutions have increased rapidly. In general, the overall foreign institutions are stable, the risk is controllable, and the development trend is good. At the same time, it also exposes some problems: the development orientation is not clear; the main business is not prominent, the business is blindly expanded; the organizational structure is complicated, the legal person governance is not perfect, the internal management and control are difficult, and the ability of active risk management needs to be promoted.
He pointed out that the Securities Regulatory Commission required the securities fund management institutions to adhere to the principle of "highlighting the main business, steady management, honesty and trustworthiness, capital constraints, strong internal control", and guiding foreign subsidiaries to focus on making big and strong main business and clearing up the business system.
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