Swiss investment bank UBS has ceased to provide services to provide some of the largest investment companies in the world access to the domestic stock market of China.
 

UBS is one of 86 foreign financial groups, which received the right to invest in the securities of China under a qualified foreign institution investors (QFII). Under this scheme, UBS, for a fee provided the institutional clients to the exclusive use of their investment quotas. Then UBS to buy or sell shares at the request of the client.
 

Swiss bank has completed this activity in November, a month after Beijing banned the “transfer or sale of” quotas under a QFII. However, since there are still disagreements over the interpretation of the new rules, other investment banks continue to provide services for the provision of quotas. “This is a serious change in our business model, but we decided that the best way to make concessions and, therefore, taken the most urgent measures” - says the head of the Department of the Chinese stock market UBS Nicole Yuen (Nicole Yuen).
 

At the same time, the Bank continues to provide its customers other services for access to the stock market of China, including in the derivatives market, such as certificates of participation (participation certificates, or P-notes). UBS became the first banking group, which was allowed to participate in the mechanism of QFII in 2003.
  

Since then, the bank used a range of $ 800 million, which was the highest among all market participants. UBS decision to terminate the provision of this service can put pressure on other financial institutions, who will be forced to follow suit. Since the beginning of the introduction of QFII mechanism of about 86 financial institutions have the right to use the quota of about $ 16.7 bilaa1lion

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