China is to review mutual fund sales at financial firms nationwide to ensure vendors are complying with all laws, the top securities regulator said.

Teams from the China Securities Regulatory Commission will check the processes of mutual fund sales at banks, brokerages and fund management firms between September and December, the agency said on its Website. Targets of the 36 inspection teams include asset protection, internal controls, information systems and investor education, the commission said. Mutual funds managers should also examine their own processes and report to the regulator, it said.

(Shanghai Daily July 21, 2008)