Category: Corporate

CHINA | Moving to a Risk-based Approach

On March 1, 2022, the Measures for Financial Institutions on Customer Due Diligence and Client ID Information, and Transaction Records Management (‘Measures’) came effective. The Measures issued by the People's Bank of China, the Bank of China insurance regulatory commission, and the China Securities Regulatory Commission. It aligns with the current financial landscape. And international…

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CHINA | E-platform Simplifies Deregistration

In 2016, the State Administration for Industry and Commerce (‘SAIC’) introduced a simplified deregistration procedure. Namely, the SAIC adopted ‘The Guidance opinions on comprehensively promoting the reform of simple deregistration of enterprises ([2016] No. 253’, (‘Guidance Opinions’) on December 26, 2016. The simplified de-register procedure was further bolstered in 2018 and 2021 with the adoption…

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