Financials Jul 10, 2020 10:05 PM (GMT+8) · EqualOcean
China Securities Regulatory Commission and China Banking and Insurance Regulatory Commission co-published the newly edited 'Measures for the Administration of Securities Investment Fund Custody Business.' The measure centers on four parts: 1) Allows locally incorporated foreign banks to apply for the securities investment fund custodian qualification. 2) Further strengthens the supervision on fund custodian business and complete the related standards. 3) Simplifies the applying process and the procedures. 4) Builds a unified standard for both banks and other financial institutions.

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