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China's Supreme People's Court gets tough on credit card crime
- Freshfields Bruckhaus Deringer LLP
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- China
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- February 17 2010
The Supreme People's Court and the Supreme People's Procuratorate announced a judicial interpretation that clarifies several Criminal Law articles concerning credit card fraud
China expands scope of Renminbi banking services and cross-border trade settlement businesses in Macau
- Freshfields Bruckhaus Deringer LLP
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- China, Macau
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- February 17 2010
On 14 December 2009 The People's Bank of China expanded the scope for banks to conduct personal Renminbi banking services and cross-border Renminbi trade settlement businesses in Macau
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
China approves three banks to set up consumer finance companies
- Freshfields Bruckhaus Deringer LLP
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- China
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- February 17 2010
Following the issue in July 2009 of provisional rules on the establishment of consumer financing firms, the China Banking Regulatory Commission recently granted approval to Bank of Beijing, Bank of China and Bank of Chengdu to establish consumer finance companies in Beijing, Shanghai and Chengdu, respectively
China launches pilot projects to finance companies with intellectual property rights
- Freshfields Bruckhaus Deringer LLP
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- China
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- February 17 2010
In November 2009 the State Intellectual Property Office launched a national pilot project to allow six Chinese lenders, including the Industrial and Commercial Bank of China and China Construction Bank to accept intellectual property rights as collateral for loans advanced to 18 eligible enterprises in Guangzhou
Taiwanese financial institutions gain access to China's financial markets
- Freshfields Bruckhaus Deringer LLP
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- China, Taiwan
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- February 17 2010
On 16 November 2009 Taiwan and China signed three memoranda of understanding to enhance the development and cooperation between their financial industries
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
Current Search
- Jurisdiction - China
- Firm Name - Freshfields Bruckhaus Deringer LLP
- Author - Lea-Anne Lee
- Author - Melissa Thomas