A recent CF40 event on promoting cash management products compliance and risk prevention: mp.weixin.qq.com/s/OrObWbHKmStH… #WealthManagement
The event came following an announcement by China Banking and Insurance Regulatory Commission on December 27th to solicit public opinions on the regulation of the management of CMPs amid the ongoing transformation of wealth management products (WMPs) in China.
While the recent announcement on CMPs aims to further optimize existing policies, it also brings challenges to both financial institutions and regulatory agencies.
A major challenge is taxation, one of the most important parts to the regulation of asset management sector in China, according to experts at the seminar.
While the regulatory standard for CMPs has remained basically the same with that for money market funds (MMFs), CMPs do enjoy equal tax preference as MMFs.
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