Specific non-financial organizations are also subject to anti-money laundering obligations. Restrictions on establishment of entertainment venues are relaxed for foreign investment. Shenzhen imposes heavy penalties to protect data privacy.
Jianwei (Jerry) Fang and Dianmeng Zhu of Zhong Lun Law Firm introduce the second draft of the Law on the Protection of Personal Information, which marks another step towards a complete legislative regime of personal information protection in China
Goldman Sachs receives initial approval for majority-controlled wealth management JV with ICBC; CBIRC finalizes wealth management product sales rules with new six month transition period; and government push for more financing options for agricultural firms
Wealth management companies are expanded to include foreign-controlled joint wealth management companies. Second draft of Data Security Law broadens its scope of application. Patent and IC layout design cases may involve technical investigators.
Mini vandePol, Gerald Lam and Andrea Kan of Baker McKenzie and Vivian Wu of FenXun Partners set out the framework of the various U.S. and PRC sanction regimes, and discuss best practices for financial institutions to consider and implement
