Reuters: China unveils draft law to tighten financial oversight, aiming to unify regulation, strengthen AML and fraud controls, and  curb systemic risks – public consultation open until April 19 2026

The draft law aims to move from fragmented, rule‑based supervision to a unified, principle‑based framework that strengthens oversight across the entire sector, tackles financial risks and weak governance, boosts consumer protection, and tightens anti‑money‑laundering and fraud penalties; key measures include stricter controls on new financial institutions and major changes, enhanced central bank modernization, and legal mechanisms to counter unfair…