Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.
January 20, 2022Money market funds with more than CNY 200 billion in net assets, or more than 50 million investors, will have to strengthen risk management and set aside additional risk reserves.
January 18, 2022The law strengthens the responsibilities, loyalty and diligence obligations of controlling shareholders and management personnel to protect investors.
January 17, 2022TAIFEX will also replace its older trading system equipment by Q4 2022 to improve trading efficiency, market capacity and service delivery.
January 14, 2022Securities firms would be eligible to act as market-makers if they have net capital above CNY 10 billion and a classification rating of Class A or higher.
January 10, 2022The plan includes measures to strengthen fintech governance, enhance data capabilities, and establish a new 'green' data centre.
January 7, 2022Banks may not refuse to open accounts for small and micro enterprises on the grounds that they have few staff or insufficient bank deposits.
January 6, 2022Data may be shared between FIs, subject to consent, if it can enhance customer convenience, improve operations, or facilitate cooperative business arrangements or partnerships.
January 3, 2022A pilot project has been initiated with 10 securities firms to optimise their account management functions and ensure the safety of customer funds.
December 14, 2021Insufficient assessment of potential business risks and a lack of core management systems and control measures have surfaced, the CBIRC said.
November 26, 2021