News Snapshot:
By Omar Faridi China is reportedly planning to introduce “special†and “innovative†regulatory guidelines for Fintech giants like billionaire Jack Ma’s Ant Group Co . , which is a subsidiary of the Alibaba Group Holding ( NYSE:BABA ). Regulators in China aim to create new policies so they can eliminate monopolistic practices while enhancing risk controls. Recent advancements in technology are beginning to transform the financial services industry, Guo Shuqing, Chairperson of the China Banking and Insurance Regulatory Commission and Party Secretary of the reserve bank, noted in an update that outlines various regulatory measures over the course of the...
