Mainland brokerages asked to stop adding new online wealth accounts

9 July 2018 | 3 minutes read

The Securities Association of China has asked Chinese securities brokerages to stop opening new online wealth management accounts for clients, with those that have yet to initiate the business line required to sign a declaration they will not develop any new business altogether, according to a leaked regulatory order the association sent out on Friday. Up to 55 Chinese brokerages…

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