Legislation roundup: Foreign exchange, patent disputes and wealth management
April 18, 2013 | BY
clpstaff &clp articles &SAFE has issued Guidelines over the interbank forex market, while the SPC has revised Provisions for patent disputes. The CBRC has also produced a Circular regulating the investment operations of wealth management of commercial banks
Foreign exchange
State Administration of Foreign Exchange, Guidelines for Market Makers of the Interbank Foreign Exchange Market (Revised)
The revised Guidelines remove the requirements on capital adequacy ratio and cross-border receipts and payments on behalf of customers for spot trading and forward swap trading market makers of the interbank foreign exchange market. For comprehensive market makers, there is no longer a requirement on capital adequacy ratio, but they are required to have obtained the qualifications of spot trading and forward swap trading market makers for at least three years.
See the digest for more details.
Further reading
Guidelines for Market Makers of the Interbank Foreign Exchange Market, Feb 2011
Intellectual property
Supreme People's Court, Decision on Revising the «Supreme People's Court, Several Provisions on Issues Concerning the Application of the Law in the Trial of Patent Disputes»
Starting from April 15, the Supreme People's Court may, in view of the actual circumstances, appoint a basic-level people's court to handle a patent case of first instance.
Further reading
PRC Patent Law (3rd Revision), Feb 2009
Implementing Rules for the PRC Patent Law (2nd Revision), Mar 2010
Banking
China Banking Regulatory Commission, Circular on Issues Relevant to Regulating the Investment Operation of the Wealth Management Business of Commercial Banks
The Circular restricts the amount of investment of wealth management products of commercial banks in non-standard debt asset products such as credit assets, trust loans and letters of credit. The investment amount is limited to 35% of the balance of wealth management products or 4% of the total assets of the bank in the previous financial year, whichever is lower.
See the digest for more details.
Further reading
Measures for Administration of the Client Asset Management Business of Securities Companies, Jan/Feb 2013
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