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UBS in talks secure mutual fund licence in China

UBS, the biggest bank in Switzerland, is reportedly in talks with the China Securities Regulatory Commission (CSRC) about its intention to apply for a mutual fund licence in the country. According to reports, the bank plans to submit the application as soon as possible. UBS was the first foreign bank to take a majority stake in a Chinese securities joint venture in 2018. Both UBS and CSRC have not officially made a statement regarding the plan. The CSRC 18 February 2023 launched a draft consultation on new capital rules that implement the international final Basel III standard for large- and medium-sized commercial banks.


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