Financials, Automotive, Technology Dec 03, 2021 06:09 PM (GMT+8) · EqualOcean
The people's Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and the State Administration of foreign exchange solicited public opinions on the guiding opinions on promoting the standardized development of derivatives business (Draft for comments). The opinions put forward that financial institutions should adhere to the principle of mainly developing derivatives business for non individual investors and strictly implement the standard review of qualified investors. Banking and insurance institutions shall not directly carry out derivatives transactions with individual customers through counters, and shall not provide enterprises with trading services for non hedging purposes. If other financial institutions really need to provide derivatives trading services for individual customers, they shall formulate more prudent participation requirements for individual customers.