Jurisdictions

Andy Meehan says greater collaboration is needed between industry players and regulators to advance 'sensible' regulation and ensure the public is properly educated.

The new rating system will increase emphasis on corporate governance and data governance, and be used as the basis for early detection and intervention to address risk.

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

Disclosures should be made through the SET’s online portal, company websites, annual registration statements and annual reports.

Banks are instructed to quickly register and then dispose of non-banking assets put up as collateral in the event of a borrower default.

Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.

The guidance emphasises the need for firms to maintain records of consumers giving consent to be sold financial products as a way to demonstrate compliance.

IFSCA chairperson Injeti Srinivas says the authority is close to setting up an International Arbitration Centre in GIFT City.

IMF managing director Kristalina Georgieva has denied involvement in alleged data irregularities to improve China’s "Doing Business" ranking.

Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.