Clifford Chance
CSRC Clarifies Beneficial Ownership Issue under QFII/RQFII Regime - an effort to include A-shares in the MSCI index
9 May 2016
Lack of clarity on ownership of securities invested through separate accounts is one of three key concerns that MSCI had when they decided not to include A-shares into its Emerging Market Index. On 6 May 2016, the China Securities Regulatory Commission (CSRC) issued a FAQ[1] after its weekly press conference which recognized the concepts of "nominee holder" and "beneficial owner of securities", and further clarified its position on the rights and interests of beneficial owner of securities held in the nominee accounts opened by QFII/RQFII.
