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Shift of burden of proof in money laundering cases in China
- Freshfields Bruckhaus Deringer LLP
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- China
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- February 17 2010
In November 2009 the Supreme People's Court announced a judicial interpretation that partially reverses the burden of proof for the "knowledge" element (similar to mens rea at common law) in money laundering offences
Investment-linked insurance contracts in China and Hong Kong
- Freshfields Bruckhaus Deringer LLP
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- China, Hong Kong
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- June 10 2009
Recent developments in the regulation of sales of investment-linked insurance in China and Hong Kong are designed to enlighten investors about the risks involved in such investments
China pilots renminbi cross-border trade settlement
- Freshfields Bruckhaus Deringer LLP
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- China
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- August 6 2009
In an attempt to strengthen China’s economic, trade and investment exchange with foreign countries, the PRC Government announced on 4 May 2009 the launch of a RMB cross-border trade settlement pilot programme in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan in Guangdong Province in South China
Bank employee banned for operating secret bank account
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
The Securities and Futures Commission (SFC) has recently banned a bank employee from re-entering the industry for 10 months for operating a secret account under the name of his mother-in-law and approving credit facilities of such account without disclosing his relationship with the account holder and his beneficial interest in the account to his employer
Coordination to crack down on illegal and criminal activities in the insurance sector
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
On 29 July 2009, the CIRC and the Ministry of Public Security published a circular on strengthening the coordination in jointly cracking down on illegal and criminal activities in the insurance sector
Chinese insurance companies allowed to invest in commercial real estate
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
As of 1 October 2009, Chinese insurers are permitted to invest directly in commercial real estate
Lease financing and auto-financing companies permitted to issue bonds
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
On 18 August 2009, The People’s Bank of China announced that lease financing companies with registered capital of not less than RMB500m and auto-financing companies with registered capital of not less than RMB800m or equivalent in other freely convertible currencies are now permitted to issue bonds
New on-line service available to intermediaries
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
On 30 September 2009, the SFC launched an on-line portal ( to streamline its licensing processes and procedures and enhance communication efficiency between intermediaries and the SFC
CBRC tightens regulation of sub-debt financing
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
On 18 October 2009, the China Banking Regulatory Commission (CBRC) issued a circular concerning the improvement of capital replenishment mechanisms of commercial banks
SFC reprimands and fines Sun Hung Kai Investment Services Ltd
- Freshfields Bruckhaus Deringer LLP
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- China
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- November 11 2009
On 12 October 2009, the SFC reprimanded Sun Hung Kai Investment Services Ltd (SHKIS) and imposed a fine of HK$4m for internal control failures that contributed to market misconduct
Current Search
- Jurisdiction - China
- Author - Melissa Thomas
- Author - Lea-Anne Lee
- Firm Name - Freshfields Bruckhaus Deringer LLP