On October 31, 2012, NAFMII held a seminar concerning the extraterritorial jurisdiction of U.S. and EU financial regulation and its impact on China. Representatives from a dozen of institutions, including People's Bank of China, international law firms and domestic market members, attended the seminar. Vice Secretary-General Cao Zijuan attended the seminar and delivered a speech.

The Seminar

Cao Zijuan, Vice Secretary-General of NAFMII delivers a speech at the seminar

During the seminar, experts from international law firms and related personnel from the international department of NAFMII introduced to the delegates the extraterritorial application of the OTC derivatives regulation of the United States and EU, the Volcker Rule, and the FATCA, and discussed issues of concerns to the market members.

The delegates said that this seminar was very helpful for market members to understand and assess the impact of the U.S. and EU financial regulation on themselves and get prepared accordingly. They expressed hopes for NAFMII to organize more of such activities in the future to help market participants understand international regulatory dynamics in a timely manner.