On October 31, the Shanghai Securities Regulatory Bureau announced that UOB (China) Ltd. recently submitted an application to the China Securities Regulatory Commission (CSRC) to revoke its public securities investment fund sales license. In accordance with the Administrative Licensing Law, Securities Investment Fund Law, and the Measures for the Supervision of Public Offering Securities Investment Fund Sales Institutions, the CSRC has decided to revoke UOB (China)'s public fund sales license.
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