The recent loss of Rmb1 million $160,000 by a Chinese investor is the latest example of a lack of risk awareness in WMPs and highlights bigger concerns about who will pay out if a wealth management product WMP fails.
An investor with the last name of Lee filed a law suit against China Minsheng Banking, a Beijing-based commercial bank, asking for Rmb1 million from the bank after buying its WMPs in June 2012,...