Chinese regulators have reportedly instructed private fund managers to halt new cross-border Total Return Swap (TRS) transactions. This directive, communicated by partner brokers, comes as a surprise to many in the private fund industry. The move follows recent regulatory actions against cross-border online brokers and a surge in private funds using TRS to invest in overseas assets, particularly in the tech sector, due to strong global performance. AI
RANK_REASON Significant regulatory action impacting financial markets. [lever_c_demoted from significant: ic=1 ai=0.1]
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