Futures companies will be allowed to expand their business scope to areas like consulting, market-making, proprietary trading and asset management.
March 29, 2023Trust companies have three years to adapt to the new rules, but plans for how they will do so need to be submitted to the CBIRC within 30 days.
March 28, 2023Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.
March 27, 2023The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.
March 17, 2023The weaknesses related to a “failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements”.
March 15, 2023Among the key tasks in the workplan, the FSS will work to strengthen governance structures, compensation systems, and internal control capabilities of banks.
February 10, 2023The initiatives seek to mitigate risks related to financial stability, insolvencies, scams, and virtual assets, while also promoting innovation and fintech.
February 1, 2023New guidelines require the use of biometric authentication systems to prevent password sharing among managers and employees.
January 18, 2023Auto finance companies will be allowed to set up overseas subsidiaries to provide financial services to Chinese automakers pursuing international expansion.
January 8, 2023Trust companies will have to divide their businesses into specific categories and ensure those businesses stay within the boundaries of their classifications.
January 6, 2023