In a recent event, the Shanghai Banking Association hosted a salon at the Bank of China's Shanghai branch, focusing on 'The Practice and Innovation of Internalizing External Regulations in Commercial Banks'. Llinks partner, Ms. Elva Yu, was invited to share insights on 'The Requirements for Internalising External Regulations and Building Compliance Structures', engaging in discussions with the attendees.
Ms. Yu's presentation began with a comprehensive review of the legal and regulatory landscape pertinent to banking compliance, including the nuances of 'internalizing external regulations' and the associated penalties. She then provided a detailed examination of the concept of 'external regulations' and how to effectively transition them into 'internal regulations'. Furthermore, Ms. Yu offered an in-depth interpretation of the significant provisions in the 'Financial Institution Compliance Management Measures (Draft for Comments)', and initiated a brief discussion on how commercial banks can strengthen their internal controls and compliance under the evolving regulatory framework.
The salon was moderated by Mr. Zhen Guo, Deputy General Manager of the Internal Control and Legal Compliance Department at the Bank of China's Shanghai branch. It included a welcome address by Ms. Huaqin Jin, Chair of the Association's Legal Professional Committee. Subsequent presentations were given by Ms. Elva Yu from Llinks Law Offices, Mr. Guo Zhen, Deputy General Manager of the Internal Control and Legal Compliance Department at the Shanghai branch of Bank of China, Mr. Feng Yuan, Deputy Manager of the Compliance and Internal Control Department at Shanghai Rural Commercial Bank, Mr. Jiang Li, Deputy General Manager of Wolters Kluwer GGM China, and Mr. Kai Hu, Senior Expert at iFLYTEK's Fin-Tech Business Unit. They covered a spectrum of topics including policy and regulatory demands, the quest for effective implementation strategies, and the transformative potential of AI technology. The event drew to a close with closing remarks by Ms. Bo Jiang, General Manager of the Internal Control and Legal Compliance Department at the Shanghai branch of Bank of China.
Banking and financial legal services are one of the cornerstones of Llinks' practice. Llinks teams have been committed to serving commercial banks and a variety of financial institutions, providing specialised, practical, and impactful compliance legal services. Amidst the backdrop of heightened financial regulation, Llinks has been dedicated to offering expert advice and keeping a pulse on the latest industry trends and cutting-edge topics.
