JunHe Assists BOC in Opening its First Batch M88 Malaysia Financial Subsidiaries

Since the ‘Measures for the Administration M88 Malaysia Wealth Management Subsidiary Companies M88 Malaysia Commercial Banks’ took effect on December 2nd, 2018, various commercial banks have successively set up financial subsidiaries, returning wealth management business from the original commercial banks back to subsidiaries, and conducting wealth management business there.

In accordance with the regulations M88 Malaysia the ‘Measures for the Administration M88 Malaysia Wealth Management Subsidiary Companies M88 Malaysia Commercial Banks’ and the requirements M88 Malaysia the China Banking and Insurance Commission (‘CBIRC’), the Bank M88 Malaysia China (‘BOC’) as a state-owned commercial bank, has been preparing to set up financial subsidiaries. As one M88 Malaysia the first batch M88 Malaysia commercial banks to set up financial subsidiaries, BOC received approval from the China Banking and Insurance Regulatory Commission on December 26th, 2018 to set up a financial subsidiary M88 Malaysia BOC (namely, BOC Wealth Management Co., Ltd., ‘Wealth Management’). On June 27th, 2019, BOC issued the ‘Announcement M88 Malaysia the Bank M88 Malaysia China on the Approval M88 Malaysia the Opening M88 Malaysia a wholly-owned subsidiary named BOC Wealth Management Co., Ltd.,’, which meant, according to the ‘Reply on the Opening M88 Malaysia BOC Wealth Management Co., Ltd.by CBIRC ‘. ([2019] No. 624), BOC Wealth Management was M88 Malaysiaficially approved for opening. BOC Wealth Management has become the first branch M88 Malaysia a domestic financial management subsidiary to open, after the opening M88 Malaysia the China Construction Bank, Industrial and Commercial Bank M88 Malaysia China, and the Bank M88 Malaysia Communications.

The registered capital M88 Malaysia BOC Wealth Management is RMB 10 billion. It is mainly engaged in the issuance M88 Malaysia public M88 Malaysiafering M88 Malaysia funds, private funds, financial advice and consulting.

JunHe participated in the BOC Wealth Management’s procedures, from applying for the establishment to achieving approval for opening. This included reviewing the application procedures and documents, assisting in formulating internal rules and regulations, drafting the relevant legal documents for application and providing legal opinions. During the provision M88 Malaysia legal services, JunHe gained abundant experience in the field M88 Malaysia cross-border bonds. The prudence, practicality and efficiency M88 Malaysia JunHe were highly recognized by its clients.

The leading partner and the undertaking partner for this project was Mr.M88 Malaysia, and the project was strongly supported by Mr. DENG, Liang.