In early June 2019, the China Banking & Insurance Regulatory
Commission ("CBIRC") circulated (intra-industry only) a
draft paper 'Discussion Draft Regulations re the Administration
of Insurance Intermediaries Approval & Registration'
("Draft Regulations"). The Draft Regulations aim to
integrate and unify the existing regulatory landscape governing
market entry and access in the insurance intermediated sector
("Intermediated Sector"). The Draft Regulations aim to
tighten and standardise criteria and requirements for insurance
intermediaries in China ("Intermediary").
In some respects, the Draft Regulations actually raise the bar
for those looking for entry into the Intermediated Sector. Any
applicant looking to enter the Intermediated Sector must
demonstrate its thorough planning, understanding and market
positioning of its Intermediary in the Intermediated Sector,
assuming approval is granted. Further, applicants must understand
that their Intermediary will be
