|
Chinese Banks urgently need to resolve weak oversight of wealth management products in order to avoid scandals such as Hua Xia Bank’s failed WMP.
Categories: China, Regulation, Retail Banking, Risk and Regulation, Wealth Management Dec 20, 2012 | Alice Yang Chinese investors recently gathered at the gates of Hua Xia Bank’s Jiading branch to protest the bank’s default in a wealth management product. While judicial results have yet to be released, the claim is that an employee allegedly sold the bulk of a wealth management product to the equivalent of 119 million renminbi ($19.1 million), with the bank now not being able to repay said investors. It… All visitors must register to gain access. Access to selected news, research and our regular e-newsletters is free for up to 10 days from publication. Please login now or subscribe/register.
Keywords: Hua Xia Bank, WMPs, BoC, Xiao Gang  Comments (0) |
 White Papers
|
