The financial management department has put forward rectification requirements for Ant Group in key business areas: first, return to the origin of payment, improve transaction transparency, and strictly prohibit unfair competition. The second is to special database operate the personal credit reporting business legally and compliantly to protect the privacy of personal data. The third is to establish financial holding companies in accordance with the law, strictly implement regulatory requirements.
And ensure sufficient capital and compliance with related party transactions. The fourth is to improve corporate governance, and strictly rectify financial activities such as illegal credit, insurance, and wealth management in accordance with prudential supervision requirements. The fifth is to carry out securities fund business in compliance with laws and special database regulations, strengthen the governance of securities institutions, and carry out asset securitization business in compliance with regulations.
Ant Group must fully recognize the seriousness and necessity of rectification, benchmark the regulatory requirements, and formulate a rectification plan and implementation schedule as soon as possible. At the same time, it is necessary to strengthen risk management and control, maintain business continuity and normal business operations, and ensure special database the quality of financial services to the public. Meituan faces antitrust lawsuit over cancellation of Alipay channel Meituan faced an antitrust lawsuit, and the Beijing Intellectual Property Court has filed a case for trial.