Global banks ‘hassled’ by China’s mystery data rules
Some firms left in the dark as new guidance on exporting data overseas is distributed bilaterally
Foreign banks operating in China – or those planning to seek a licence – are facing a dilemma after local regulators circulated new guidelines on data management to individual firms without making them publicly available. On one hand, financial institutions want to follow the letter of the law to avoid compliance breaches. On the other, the guidelines shared with each firm are meant to be
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