Custody nail-biter over China QFII
Regulators are due to release final details for the scheme before it goes live on December 1 that will determine whether global custodians enter the market.
One runs a risk combining the words 'custody' and 'nail-biter' in the same headline, but nonetheless global custodian banks are on tenterhooks as they await final details from several Chinese regulators about their role in the new scheme to open A shares to foreign portfolio investors.Custody executives in Hong Kong say if the rules pile on too many risks, they will not participate. "These rules will determine our interest," says James Wong, senior vice president for Hong Kong custody…
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