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China Cracks Down on Internet Sales of Financial Products, Use of Celebrity Promotions

January 11, 2022
Source: chinabankingnews.com chinabankingnews.com
News Snapshot:
China’s top regulators have issued new rules to crack down on the use of online channels for the sale of financial products. The People’s Bank of China (PBOC) recently lead the issuance of the draft version of the “Financial Products Online Sales Administrative Measures” (???????????????????) for the solicitation of opinions from the public. According to authorities the purpose of the new Measures is to “restrain financial product Internet sales malfeasance, better maintain the financial market order, and protect the lawful rights and interests of financial consumers.” The Measures outline three key measures in particular, including: - Prohibiting third party Internet...
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Tags: bank | Bank of China | blocking | China | data | Economy | entertainment | finance | financial | financial services | infringement | Internet | Internet sales | IT | loans | management | media | online | online sales | PBOC | privacy | report | sales | streaming | technology

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