Wealth management
Source: Xinhua |
June 30, 2011, Thursday
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Print Edition
Print Edition
THE China Banking Regulatory Commission yesterday moved to solicit opinions on wealth management services in order to better protect investors.
According to a statement on its website, the banking regulator ordered commercial banks to improve the information disclosure system to better inform clients about risks when they buy wealth management products from banks.
The documents should include information on investment risks and carry out an assessment of a client's ability to endure risks and give anticipated results in a worst-case scenario.
Chinese commercial banks have lured investors to wealth management products by touting how profitable they might be.
Risk assessments should be based on a client's age, financial statements and investment experience, according to the CBRC.
According to a statement on its website, the banking regulator ordered commercial banks to improve the information disclosure system to better inform clients about risks when they buy wealth management products from banks.
The documents should include information on investment risks and carry out an assessment of a client's ability to endure risks and give anticipated results in a worst-case scenario.
Chinese commercial banks have lured investors to wealth management products by touting how profitable they might be.
Risk assessments should be based on a client's age, financial statements and investment experience, according to the CBRC.
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