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PBs in “wait-and-see” mode for regulatory clarity as GBA Wealth Connect beckons

Until there is more clarity on how the Greater Bay Area (GBA) Wealth Management Connect scheme will include wealth managers and their HNW clients, private banks will remain in a “wait-and-see” mode in the face of competing priorities within the business. With the Memorandum of Understanding signed last week between authorities in mainland China, Hong Kong, and Macau, it has become…

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