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July Regulatory Round-up: SFC notes 2% drop in 2018 PWM AUM; HKMA guidance on loss-absorption products stirs uncertainty; China encourages foreign participation in onshore financial industry

July was a significant and eventful month for Hong Kong citizens in the wake of the ongoing anti-extradition protests, but related private wealth asset outflows have proved “marginal” while industry insiders are still divided on the implications of China’s response. Although the current cycle of protests began recently in June, market outlook and performance were not affected overnight. According to the Asset and…

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