China Insurance Regulatory Commission, Measures for the Administration of the Anti-money Laundering Work in the Insurance Industry
中国保险监督管理委员会保险业反洗钱工作管理办法
New anti-money laundering measures prohibit equity investment from unlawful fund sources.
Issue: November 2011
CLP Reference: 3910/11.09.13
Promulgated: 13 September 2011
Effective: 01 October 2011
Keywords (click to search):
anti-money laundering
insurance
source of funds
Promulgated: September 13 2011
Effective: October 1 2011
Interpreting authority: China Insurance Regulatory Commission
Applicability: The Measures apply to insurance companies, insurance asset management companies and their (sub-)branches, and dedicated insurance agencies, insurance brokerages and their branches, and financial institutions that engage in the insurance agency business as a sideline (Article 3).
Main contents: When applying to establish an insurance company or insurance asset management company, the following requirements on anti-money laundering shall be satisfied:
(i) having a lawful source of investment funds;
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