Alipay’s new investment service goes offline due to compliance issue: report · TechNode

Alipay’s new investment service goes offline due to compliance issue: report · TechNode
Just days after launching, Alipay’s new investment advisor service has been taken offline due to “compliance issues,” 21st Century Business Herald reported Thursday, citing unnamed sources. Alipay’s financial platform Ant Fortune is collaborating with six other funds and financial institutions – including Aegon-industrial Fund, Southern Asset Management, and GF Fund Management – for the service, which launched on Jan. 4. It was intended to offer a fund portfolio chosen by Alipay’s financial advisors and based on the institutions’ fund libraries. The report quoted an unnamed source as saying that the compliance issue may be due to Alipay not being officially qualified to evaluate funds.

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