China Securities Regulatory Commission, Measures for the Administration of the Securities Investment Fund Custody Business (Draft for Comments)

中国证券监督管理委员会证券投资基金托管业务管理办法 (征求意见稿)

June 05, 2020 | BY

Susan Mok

CBIRC supports foreign bank branches in applying for fund custody qualifications

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Issued: May 9, 2020

Main contents: The Measures support foreign bank branches in applying for fund custody qualifications, suitably consider the scale of assets and business experience of the head offices of the foreign banks, specify the conditions a branch is required to fulfill to apply and further improve the access arrangements, such as net assets.

The Measures improve arrangements for the oversight of fund custodians, establish a mechanism for pursuing the liability of head offices of foreign banks and set forth