HSBC, AIA and Prudential sink on Hong Kong account curbs
Why it matters: tighter checks on mainland clients could slow a lucrative flow of cross-border banking and insurance sales in Hong Kong.
Bloomberg, The Business Times (Singapore)
Subject
#Capital Flight
Banks curb China travel as Beijing widens cross-border crackdown
What's new: UBS delayed a mainland wealth event, while Hong Kong regulators now require declarations that new investment funds came from outside China.