Proposed rules on fund purchases
Source: Bloomberg News |
April 21, 2012, Saturday
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Print Edition
Print Edition
CHINA yesterday published proposed rules to encourage fund management companies to regulate purchases by managers of funds that they or their employers run.
The rules will also allow employees of fund management firms to invest in closed-end funds using non-stock accounts and cancel time limits on holding money-market and cash-management funds, the China Securities Regulatory Commission said.
The rule will regulate investment by fund management staff and protect the rights and interests of fund holders, said the CSRC, which seeks public feedback on the plan.
The rules will also allow employees of fund management firms to invest in closed-end funds using non-stock accounts and cancel time limits on holding money-market and cash-management funds, the China Securities Regulatory Commission said.
The rule will regulate investment by fund management staff and protect the rights and interests of fund holders, said the CSRC, which seeks public feedback on the plan.
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