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

China-OTC-derivatives-law

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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