The Federal Reserve Board has announced an enforcement action against one of the biggest banks in China, ordering it to restructure its anti-money laundering compliance program.
China may grant commercial banks stock broker licenses in a pilot programme allowing mainland lenders to conduct mixed business.
China has issued stricter guidelines to regulate Internet finance, calling for enhanced supervision of the sector while also pledging to support its development.
Zhu Guangyao believes that the supervision and the development of new regulatory frameworks will make it possible to weather any future market turbulence.
The China Securities Regulatory Commission is tightening oversight of the widely-used HOMS trading platform, which is seen to have facilitated stock investors borrowing money outside approved margin lending channels and aiding recent wild fluctuations on the A-share market.
The China Securities Regulatory Commission has increased scrutiny of peer-to-peer lenders, which have been operating outside of approved margin lending channels.
China continued to liberalise its domestic capital market by scrapping quotas that limited investments.
The People’s Bank of China will soon release new regulations to regulate Internet finance and promote its healthy development.
Australian financial services firm AMP Ltd has publicly criticised Chinese regulators for contributing to the panic sell-off in mainland equities.
The China Banking Regulatory Commission is looking to stabilise the markets by urging banks to roll over loans backed by shares.