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China regulator launches new rules for banks’ WM subsidiaries

Taking its next step in reforming the Mainland’s wealth management space, the China Banking and Insurance Regulatory Commission (CBIRC) released new rules for commercial banks’ wealth management subsidiaries. On 2 December, the CBIRC announced the new regulations, which complement the ‘Measures for the Supervision and Administration of Wealth Management Business of Commercial Banks’ (the Measures) that were issued in September…

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