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By Chen Yun (Robert) and Liang Yixuan King & Wood Mallesons’ Finance & Capital Markets group

2017 has been a busy year for Chinese regulators with the CBRC, CSRC and CIRC issuing dozens of decrees, circulars and rules aimed at cleaning up the country’s financial markets and controlling its financial risks. In particular, CBRC issued 8 circulars in just a few days from late March to early April, launching a strong regulatory campaign in the banking sector against what is known as the “3 (three types of violations) 3 (three types of arbitrages) 4 (four types of improper conducts)“.  
Continue Reading The knives are out – Penalties in the banking sector point towards a regulatory storm

By King & Wood Mallesons’ Compliance Group

China’s first national standard on personal information protection, namely the Guide of Personal Information Protection on Information Security Technology, Public and Commercial Information Service System (the “Guide”) became effect on February 1, 2013. Only about one month earlier, the Decision on Strengthening Online Information Protection (the “Decision”) was adopted by Standing Committee of the National People’s Congress on December 28, 2012 and became effective on the same day. Both of the moves show China has taken the significant first step on enhancing personal information protection.
Continue Reading China Enhances Personal Information Protection