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China to ban banks, insurers from offering over-the-counter derivatives to individuals -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: On a cloudy day in Beijing (China), October 25, 2021, a woman is seen walking in the Central Business District. REUTERS/Thomas Peter

BEIJING (Reuters), – China’s financial regulators are banning banks and insurance companies from selling over-the counter derivative trading products directly to clients. This is part of a wider effort to increase sector risk control.

In draft rules, which were published by the three Chinese banks on Friday, they stated that insurers and lenders will be prohibited from offering derivatives trading services for corporate clients.

According to them, derivative products will no longer be provided by financial institutions.

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