Featured Product

    CBIRC Publishes Measures for Commercial Banking Financial Subsidiaries

    December 02, 2018

    CBIRC published "Administrative Measures for Commercial Banking Financial Subsidiaries" to be implemented as of the date of promulgation. The measures were formulated keeping in mind the "Guiding Opinions on Regulating Financial Asset Management Business of Financial Institutions" and the "Measures for the Supervision and Administration of Financial Banking Business of Commercial Banks." CBIRC consulted on the administrative measures from October 19 to November 18, 2018. CBIRC also published the frequently asked questions on the "Administrative Measures for Commercial Banking Financial Subsidiaries."

    The measures for commercial banking financial subsidiaries, "Guiding Opinions on Regulating Financial Asset Management Business of Financial Institutions," and the "Measures for the Supervision and Administration of Financial Banking Business of Commercial Banks" constitute the regulatory requirements for financial management subsidiaries to carry out wealth management business. The administrative measures consist of six chapters and 62 articles, including general rules, establishment of changes and terminations, business rules, risk management, supervision and management, and supplementary regulations. In the next steps, CBIRC will continue to build a supporting system, continuously improve the regulatory framework for bank wealth management subsidiaries, and actively communicate and coordinate with relevant departments to create a favorable external environment for the financial subsidiaries of banks to regulate robust development.

     

    Related Links (in Chinese)

    Effective Date: December 02, 2018

    Keywords: Asia Pacific, China, Banking, Asset Management, Wealth Management Products, Bank Subsidiaries, CBIRC

    Related Articles
    News

    APRA Announces Deferral of Capital Reform Implementation

    APRA announced that it is deferring the scheduled implementation of Basel III reforms in Australia by one year.

    March 30, 2020 WebPage Regulatory News
    News

    ECB Updates Recommendation on Dividend Distribution Policy of Banks

    ECB updated its recommendation to banks on dividend distributions.

    March 30, 2020 WebPage Regulatory News
    News

    BaFin Explains Regulatory Measures to Address Impact of COVID-19

    BaFin has released new developments and important information about COVID-19 and its effects on the financial and banking system.

    March 30, 2020 WebPage Regulatory News
    News

    BCBS Defers Implementation of Final Basel III Standards by One Year

    BCBS has announced deferral of the implementation date of the final Basel III standards by one year, to January 01, 2023.

    March 27, 2020 WebPage Regulatory News
    News

    EC Regulation on CCR Mitigation for Covered Bonds and Securitizations

    EC published the Delegated Regulation 2020/447 with regard to regulatory technical standards on the specification of criteria for establishing the arrangements to adequately mitigate counterparty credit risk, or CCR, associated with covered bonds and securitizations.

    March 27, 2020 WebPage Regulatory News
    News

    IFRS Publishes Statement on Its Work During the COVID-19 Crisis

    IFRS, in its statement, emphasized that it shares global concerns about the impact of COVID–19 and is supporting its stakeholders by reconsidering timelines of its meetings and publications, providing information on the application of IFRS 9 on financial instruments, and offering calendar updates on ongoing activities.

    March 27, 2020 WebPage Regulatory News
    News

    US Agencies Announce Changes to SA-CCR and CECL Rules Due to COVID-19

    In light of the recent disruptions in economic conditions due to the COVID-19 outbreak, US Agencies (FDIC, FED, and OCC) announced two actions to allow banking organizations to continue lending to households and businesses.

    March 27, 2020 WebPage Regulatory News
    News

    IAIS Adjusts Work Program to Address Impact of COVID-19 on Insurers

    Considering the impact of COVID-19 outbreak, IAIS announced initial adjustments to its work program to provide operational relief to its member supervisors, insurers, and other stakeholders.

    March 27, 2020 WebPage Regulatory News
    News

    OSFI Announces Regulatory Adjustments to Support COVID-19 Efforts

    OSFI published three targeted industry letters that announce a series of regulatory adjustments to support the financial and operational resilience of federally regulated banks, insurers, and private pension plans in the light of COVID-19.

    March 27, 2020 WebPage Regulatory News
    News

    FCA Communicates No Impact of COVID-19 on LIBOR Transition Date

    FCA, BoE, and members of the Working Group on Sterling Risk-Free Reference Rates have discussed the impact of the COVID-19 on firms’ LIBOR transition plans over the coming months.

    March 27, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4906