Measures for administration of financial holding companies

On September 13, the State Council authorized the people’s Bank of China to carry out market access management on financial holding companies and organize the implementation of supervision. On the same day, the people’s Bank of China issued the Trial Measures for the supervision and management of financial holding companies, which will come into effect on November 1, 2020. The measures are applicable to financial holding companies whose controlling shareholders or actual controllers are domestic non-financial enterprises, natural persons and recognized legal persons. The people’s Bank of China supervises and approves the establishment, change, termination and business scope of financialRead More →

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