The China Banking and Insurance Regulatory Commission has revised and released the "Regulations on the Management of Currency Brokerage Companies".

The main revisions of the "Measures" are as follows: First, optimize and adjust administrative licensing matters. Moderately increase the registered capital requirements for monetary brokerage companies to enhance risk resistance capabilities and solidify the foundation for high-quality development. Optimize the qualification conditions for investors and streamline some administrative licensing procedures. Second, moderately extend the scope of business operations. Allow monetary brokerage companies to provide matching services for market transactions such as currencies, bonds, foreign exchange, gold, derivatives, among financial institutions. It is specified that monetary brokerage companies can lawfully and compliantly use market data collected during brokerage business processes to provide data information services to clients. Third, refine business operation rules. Clarify the admission requirements for brokerage business varieties and the scope of brokerage service subjects. Strengthen full-process management of business operations, clarify regulatory requirements for due diligence, transaction confirmation, anonymous matching, trace management, etc. Regulate service fee management to ensure fair pricing. Fourth, further strengthen risk supervision. Strengthen corporate governance oversight, improve internal control construction, related party transaction management, compensation management, information disclosure requirements, etc. Adhere to a risk-based approach, with clear regulatory requirements for operational risk, compliance risk, information technology risk, data security management, outsourcing management, etc. Fifth, strengthen brokerage behavior supervision. Require monetary brokerage companies to improve broker management mechanisms, strengthen oversight of suspicious transactions, communication tools, brokerage business premises, broker personnel files, etc., to prevent moral risks. Clearly define prohibited activities in brokerage business to prevent harm to customer's legitimate rights and interests and disrupt market order.