On October 24, the Central Bank announced feedback regarding the public consultation on the "Notice on Implementing the Supervision and Management Measures for Anti-Money Laundering and Anti-Terrorist Financing by Financial Institutions." The consultation draft was open for public comments from July 18 to July 30, 2025, through the official website of the People's Bank of China, during which 17 comments were received. After thorough research and analysis, most suggestions have been adopted. The main points of feedback include:
1. Recommendation to eliminate the reporting obligation for the penalties or sanctions imposed by local anti-money laundering regulatory authorities on overseas independent legal financial institutions within the same group. Adoption status: This suggestion has been accepted, and the relevant provisions have been removed from the notice.
2. Suggestion to change the signatory for the annual anti-money laundering report from the chief responsible person of the institution to “responsible person.” Adoption status: This suggestion has been accepted; “chief responsible person” has been amended to “responsible person” for signing.
3. Difficulty in submitting the annual anti-money laundering report by the end of January of the following year; a recommendation to modify the submission deadline. Adoption status: This suggestion has been accepted; the submission deadline has been changed to the end of March.