Practical Law UK Glossary w-039-5034 (Approx. 2 pages)
Glossary
National Administration of Financial Regulation (NAFR) (国家金融监督管理总局)
A government institution directly administered by the State Council, which was officially unveiled on 18 May 2023.
The NAFR oversees the financial industry, except for the securities sector, which continues to be regulated by the China Securities Regulatory Commission (CSRC). The NAFR also took over the following responsibilities from other regulators:
The People's Bank of China's responsibilities for daily supervision of financial groups (for example, financial holding companies) and responsibilities for the protection of financial consumers.
The CSRC's responsibilities for the protection of investors.