Asset management business disputes have shown an explosive trend since the start of 2018. The number of cases has grown explosively, the amounts involved have been huge and the legal relationships are complex.
Co-effort Law Firm
Senior Partner
Among the numerous disputes regarding asset management business, the boundary dividing the responsibilities of the various entities has been the most crucial and fundamental. As the higher level legislation governing such business in China has yet to be unified, the level of many current rules is quite low, and the laws applicable to various asset management products overlap, this had led to a lack of clarity in the boundary dividing the responsibilities of managers and investors, managers and custodians, and of the various entities involved in the channel business, and a lack of uniformity in the criteria of judicial judgments.
Boundary dividing manager and investor. “Buyer bears liability himself, and the seller duly performs its responsibilities” are the essential attributes of the asset management business. In the legal relationships of asset management, the boundary dividing the responsibilities of the manager and the investor is the flash point of controversies and disputes. This is particularly manifest in such issues as the investor suitability obligation, the investor’s right to know and the determination of the nature of principal and return guarantee.
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Ma Chenguang is a senior partner at Co-effort Law Firm
5/F Huaneng Union Tower No. 958 Lujiazui Ring Road
Pudong New Area, Shanghai 200120, China
Tel: +86 21 6886 6151
Fax: +86 21 5887 1151
E-mail:
chenguangma@co-effort.com
