People's Bank of China, Ministry of Industry and Information Technology, Cyberspace Administration of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange and China National Intellectual Property Administration, Measures for the Administration of the Online Marketing of Financial Products (Draft for Comments)

人民银行、工业和信息化部、国家互联网信息办公室、中国银行保险监督管理委员会、中国证券监督管理委员会、国家外汇管理局、国家知识产权局金融产品网络营销管理办法 (征求意见稿)

February 12, 2022 | BY

Susan Mok

Financial institutions shall bear management responsibilities when engaging third-party online marketers for their financial products

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Main contents:       Where a financial institution engages a third-party internet platform operator to carry on online marketing of financial products, it shall assume management responsibilities as the business entity. If the third-party internet platform operator fails to perform the entrusted obligations as agreed, thereby prejudicing the rights and interests of financial consumers or causing other adverse effects, it shall bear the relevant liability in accordance with the law (Article 17).