Minsheng Back in the News, Beijing West Train Station Branch

In 2013, the Beijing West train station branch of Minsheng bank sold a product without an official seal. Three years on there’s no settlement, but Minsheng claims they are not responsible because investors purchased despite no official Minsheng seal being on the document.

This doesn’t look like a major story, but it was a top headline in the iFeng finance section. It speaks more to investor mood at the moment, and the attention on the banks and WMPs.
iFeng: 民生银行:通过法律途径解决西客站支行投资人诉求

According to the relevant information disclosed by investors before, investors and China Sun Yat Investment Fund Management Company signed a “partnership agreement”, the custody of non-people’s livelihood bank, “partnership agreement” also did not cover the Minsheng Bank official seal. “From the above materials, the purchase of the product is the investor’s own behavior, do not see Minsheng Bank has a direct responsibility.” A lawyer told reporters that as for the bank staff in the sale of the existence of problems, Organizational findings.

In this regard, Minsheng Bank Beijing Branch, said the West Railway Station sub-branch events, investors buy products non-livelihood bank financial products, the bank found that there is no funds to enter the Minsheng Bank account.

The branch further said that the West Railway Station sub-branch investors and Hangtian branch case investors are different, the two events of different nature, can not be generalized, but the bank in a highly responsible attitude towards each investor, for investors To the practical problems, according to the law to put forward a solution.

It is reported that Minsheng Bank has been in accordance with regulatory requirements to conduct investigation, the relevant responsible person for the initial treatment. The bank said that adhere to the legal channels to resolve investor demands, hope and investors together, with the judicial power to fully identify the facts, on the basis of separation of responsibilities, according to the law to solve the demands of investors.

Author: 罗臻 http://www.investinginchinesestocks.blogspot.com

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