Over 70 percent of the violations have so far been resolved; 281 institutions were fined a total CNY 150 million; 711 shareholders were fined CNY 20.4 million.
March 23, 2021SEBI proposes to introduce a ‘dual approval’ system where appointments of independent directors must be approved by both majority and minority shareholders.
March 2, 2021Deposit-taking institutions, asset managers and financial leasing companies with CNY 300 billion in total assets have to formulate recovery and resolution plans.
March 2, 2021DBS said the local government and the RBI, who drafted and approved the takeover proposal, would be primary respondents in the lawsuits.
February 24, 2021A 36 month lock up period is being introduced for investors who purchase shares in companies within 12 months before their IPO applications.
February 12, 2021Banks and insurers have to evaluate the performance of their directors and supervisors each year and classify them as “competent”, “basically competent” or “incompetent”.
February 10, 2021The guidelines formalise obligations for banks and insurers to integrate Communist Party leadership in the governance of state-owned and private banks and insurers.
February 5, 2021If the PBOC identifies a non-bank payment institution as a monopoly, it can advise the State Council's antitrust committee to take action to break up the firm.
January 22, 2021ICBC, China Development Bank, Great Wall, and Postal Savings Bank and a number of their subsidiaries were penalised almost 200mn yuan for various regulatory violations.
January 11, 2021A joint working team comprising CBIRC and local government officials was dispatched to Sichuan Trust to supervise operations and carry out a management reshuffle.
December 24, 2020