New regulations on WMP sales

Updated 2017-08-24 10:03:53 Global Times

The China Banking Regulatory Commission on Wednesday announced new regulations to guide banks in selling wealth management products (WMPs).

Banks must sell WMPs to customers in special zones in their branches, and they must install electronic equipment to capture video images and audio records of transactions.

WMPs are issued by both banks and third-party partners.

The move aims to better regulate the market and prevent illegal activities, to protect consumers' interests, according to the CBRC.

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