BNY Mellon Asset Management, a unit of Bank of New York Mellon Corp., received approval from the China Securities Regulatory Commission to provide subadvisory services for Chinese investors.
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The approval is related to a regulatory mandate that allows Chinese investors to use foreign fund managers.
BNY Mellon Asset Management announced the approval Monday. This year it formed a partnership with China Southern Fund Management Co. Ltd., the country's oldest regulated fund management company.
