The latest compliance issues in wealth management across Asia-Pacific.

Nomura
Asian investment firm Nomura Holdings has signed a memorandum of understanding with the China Investment Corporation (CIC), Daiwa Securities Group, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. 

The MoU is part of a strategic alliance to establish a Japan-China industrial cooperation fund. The fund aims to enhance bilateral trade and investment relations between China and Japan by investing in Japanese companies seeking to expand their businesses into China, as well as Chinese companies and companies from other third-party countries. 

Under the MoU, the parties have agreed to set up a fund management company. The MoU also sets out fundamental principles and other necessary considerations for creating the fund. 

The establishment of the fund management company and the fund is subject to the execution of a final agreement, regulatory approvals by the relevant authorities including those in Japan and China, and respective company board approvals.