China opens gates wider for foreign asset managers on April 1-$30 Trillion Market Promise Beckons Global Wealth Firms
Starting April 1, they can apply for licenses to set up wholly-owned mutual fund management firms for the first time
BlackRock is in talks with China Construction Bank Corp. to set up a joint venture for a wealth management subsidiary, according to people familiar with the matter. Goldman Sachs Group Inc. has discussed a similar structure, people familiar have said. This is the go-it-alone option. China is planning to allow applications for foreign-owned fund management licenses that would grant control of mutual funds. At least six firms, including BlackRock and Vanguard, have told regulators they intend to apply to the Chinese securities watchdog, people familiar with the matter have said. The solution for some is to buy out their partners. JPMorgan is seeking 100% ownership of its fund management joint venture, people familiar have said. The New York-based bank is in talks with Shanghai International Trust Co. to acquire its stake in China International Fund Management, which oversees 150 billion yuan ($21 billion). Vanguard meanwhile has a robo-advisory joint venture with Jack Ma’s Ant Financial Services Group that started providing mutual-fund recommendations to Alipay app users in late March.
Vanguard and BlackRock are among firms going that route, people familiar have said. Other options include boosting ownership of existing joint venture partnerships to 100%, as JPMorgan Chase & Co. plans to do, people familiar have said. The China Banking and Insurance Regulatory Commission has been encouraging foreign asset managers to work with the wealth management subsidiaries of Chinese banks or insurers. Global players are expected to bring to the table product design expertise, while the Chinese firms provide a vast distribution network and relationship managers.
https://www.bloomberg.com//news/articles/2020-03-28/china-s-30-trillion-market-promise-beckons-global-wealth-firms
people are fucking stupid with that. Think he is /ourguy. Don't know his past.
they got rid of the bankers who were opposed to it on the Titanic, cough Olympic, set up a structure where the FRB was owned by the very same bankers who are/were supposed to be regulated by the FRB-they don't do a damn thing to police them, why? The big banks own all the shares in the private company known as the Federal Reserve. They are illiquid and not traded on any open exchange.
moar here
Who Really Owns the Federal Reserve?
The 12 regional Federal Reserve banks are set up similarly to private banks. They store currency, process checks, and make loans to the private banks within their area that they regulate. These banks are also members of the Federal Reserve banking system. As such, they must maintain reserve requirements. In return, they can borrow from each other at the fed funds rate when needed. As a last resort, they can also borrow from the Fed's discount window at the discount rate.7
To be a member of the Federal Reserve system, commercial banks must own shares of stock in the 12 regional Federal Reserve banks by law. But owning Reserve bank stock is nothing like owning stock in a private company. These stocks can't be traded. These don't give the member banks voting rights. These pay out dividends mandated by law to be 6 percent. But the banks must return all profits, after paying expenses, to the U.S. Treasury.
https://www.thebalance.com/who-owns-the-federal-reserve-3305974
Much of that article is bullshit but the part about it being private and the shares are correct.
Spanish AF AME3178 Airbus A400M from Chelyabinsk Russia over eastern China
fuck off faggot. they post that shit in here constantly it's bullshit. You can't even respond to the correct post.
FUCK DON"T ANY OF YOU NIGGER"S READ? SAID THIS TWO FUCKING NIGHTS AGO. ALL IT DOES IS PROVIDE AN OVERSIGHT FUNCTION WHERE IT DID NOT EXIST PREVIOUSLY.
when people don't read and continue the same questions yes. Fucking ridiculous
yes
fucking children in here on the weekends.