Noah: China’s regs will lead to WM shakeout

Despite recent ‘sweeteners’ to the new asset and wealth management guidelines, the wealth management industry will likely consolidate as the new regs are adopted, according to Andrew Xia, chief research officer at NYSE-listed Chinese wealth manager Noah. The first draft of the guidelines, jointly published by the financial regulators in November, widens the scope of scrutiny … http://bit.ly/2v5pykX

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