China set to firm up extraterritorial grip on OTC derivatives
CSRC expected to approve new KYC and market abuse rules despite concerns over foreign impact
Lawyers expect the China Securities Regulatory Commission to stick with controversial regulations extending the extraterritorial reach of its rules on know-your-customer (KYC) and market abuse in its final draft.
The CSRC released its first draft of new rules for supervising the over-the-counter derivatives market in mainland China in March – previously the market was overseen by a self-regulatory organisation. It had an extraterritorial reach that applied to foreign firms if transactions were
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