THE SITUATION
1. Local governments circumvent borrowing restrictions causing accumulation of debts into speculative investments.
2. All this is done via the proliferation of maturity mismatched WMPs (wealth Management Products).
3. Banks on the other hand are able to obscure or partially conceal credit risks info with this method.
4. The central bank forces bad debts to be rolled due to protectionism and nationalism reasons suppresses NPLs figures.
5. A rough picture can be obtained from previous post titled "China's Credit Risk Exposure"
Tuesday, 28 July 2015
[Misconduct] Largest Retail Fine For Poor Complaints Handling
FINED FOR POOR COMPLAINTS HANDLING
"The Financial Conduct Authority (FCA) has issued its largest ever retail fine (£117m) to Lloyds Bank Plc, Bank of Scotland Plc and Black Horse Ltd (together Lloyds) for failing to treat their customers fairly when handling Payment Protection Insurance (PPI) complaints between March 2012 and May 2013."
"In March 2012, Lloyds issued guidance instructing complaint handlers that the overriding principle when assessing complaints was that Lloyds’ PPI sales processes were compliant and robust unless told otherwise (the Overriding Principle)"
Source: www.fca.org.uk
"In March 2012, Lloyds issued guidance instructing complaint handlers that the overriding principle when assessing complaints was that Lloyds’ PPI sales processes were compliant and robust unless told otherwise (the Overriding Principle)"
Source: www.fca.org.uk
ARFP Risks and Concerns
To extend from previous article titled "Asset Management Opportunities in Asia". There are currently 3 investment schemes in the Asia region- CIS, ARFP and Hong Kong-China Mutual Recognition. Each with its own features and cross-border schemes involves risks and obstacles and all schemes must avoid overlooking areas that may deter investors. Below are a few potential risks and costs of cross border investment funds as well as concerns and uncertainties.
Asset Management Opportunities in Asia
ASIAN REGION FUNDS PASSPORT
Target Live Launch Period:- Late 2015/ Early 2016
Participating Pilot Group Countries:- Australia, Korea, New Zealand, Philippines, Singapore and Thailand.
Subsequent potential countries still in discussions:- Hong Kong, China, Indonesia, Japan, Malaysia, Taiwan and Vietnam
Target Live Launch Period:- Late 2015/ Early 2016
Participating Pilot Group Countries:- Australia, Korea, New Zealand, Philippines, Singapore and Thailand.
Subsequent potential countries still in discussions:- Hong Kong, China, Indonesia, Japan, Malaysia, Taiwan and Vietnam
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