Guangzhou's financial regulator will seek to attract talent and capital to the city and promote it as a wealth and asset management centre.
June 9, 2022The former BOC managers stole the bank's money and laundered it through Canada and the US, in a case that dates back 20 years.
November 22, 2021Regulators are reportedly working to simplify cross-border bank account opening processes to facilitate the launch of Wealth Management Connect.
March 16, 2021Bank of China was fined over 50mn yuan and ordered to correct deficiencies, strengthen compliance awareness and improve risk management.
December 7, 2020Seven banks have temporarily stopped opening new accounts for precious metals trading amid concerns that heightened volatility could lead to losses and complaints.
December 1, 2020China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.
July 30, 2020Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.
May 10, 2020The move followed a determination by the Financial Stability and Development Committee that the bank was at fault for not following investment suitability principles.
May 8, 2020The CBIRC has asked Bank of China to improve its risk management and to negotiate with investors in good faith over an estimated 10bn yuan in losses in its crude oil product.
May 5, 2020The verbal directions came nearly a week after an estimated $1.4bn in losses were recorded in a crude oil futures trading product sold by Bank of China.
April 29, 2020