Standard Chartered Bank (Hong Kong) Limited Submitted the "Approval for the Establishment of Securities Company"
Foreign institutions in China's capital market layout to welcome new progress. According to the public information of the Securities Regulatory Commission (SFC), Standard Chartered Bank (Hong Kong) Limited, a subsidiary of Standard Chartered Bank, received the approval for the establishment of a securities company from the SFC on August 6, and the proposed brokerage firm is tentatively named Standard Chartered Securities (China) Limited.
In response to the consideration of setting up a securities company, Standard Chartered Group CEO Bill Winters said, "We want to provide our customers with a more comprehensive capital market solution. In the past, such solutions were either through private placements or direct access to the banking market. With either form of existing or innovative securitization products and vehicles, and in partnership with other securities firms, we want to enhance our ability to fully serve our clients." However, he also stressed that securities brokerage and underwriting and sponsorship are not the goals of Standard Chartered.
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