In mid-August, it was reported in the press(1) that
the National Development and Reform Commission
(NDRC) had received complaints that the commercial
banks in China have engaged in price-fixing conduct. Pursuant to
the Anti-Monopoly Law, conduct amounting to price-fixing is
The following are some details of what has been alleged:
several commercial banks have come together and agreed to raise
various fees and charges to similar amounts (including bill
printing fees, small account management fees and inter-bank ATM
it was alleged that this collusive conduct was facilitated by
meetings hosted by the China Banking Association between 2005 and
It remains to be seen if the NDRC will formally launch an
investigation into this issue. We note that currently the China
Banking Regulatory Commission (CBRC) and the NDRC
are putting together rules which would regulate the service fees of
commercial banks (entitled "Interim Measures on the
Administration of Service Fees of Commercial Banks)
(service fee rules). These service fee rules, once
enacted, will no doubt provide clearer guidance in relation to what
conduct is permitted, both pursuant to the proposed rules as well
as pursuant to the AML.
 Including in the Beijing Daily and in the Global
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The committee set up to draft a Code on Resolution of Financial Firms, by the Ministry of Finance, Government of India, on September 28, 2016, released a draft bill – The Financial Resolution and Deposit Insurance Bill, 2016...
In a race to adopt technology innovations, Banks have increased their exposure to cyber incidents/ attacks thereby underlining the urgent need to put in place a robust cyber security and resilience framework.
RG 256 deals primarily with remediation programs conducted by licensees who provide personal advice to retail clients.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).