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3/29/2019, 12:00 PM (Source: TeleTrader)
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JPMorgan, Nomura joint China brokerage approved by regulator

The China Securities Regulatory Commission (CSRC) gave permission to JPMorgan Chase & Co. and Nomura Holdings Inc. to set up a brokerage joint venture, the regulator said at a press conference on Friday.

The CSRC stated it plans to implement a national policy to further expand foreign access to its financial markets, shortly after a new law allowing outside investors to own more than 51% in Chinese securities companies passed.

The regime in Beijing has been attempting to open up its markets to more foreign investors as it negotiates an agreement with the United States in order to end their trade war.

Breaking the News / MD