Chinanews.com, March 27th. According to the website of the China Banking and Insurance Regulatory Commission, the "Measures for the Implementation of Administrative Licensing Issues for Non-bank Financial Institutions of the China Banking and Insurance Regulatory Commission" (hereinafter referred to as the "Measures") was announced recently. The Measures cancelled some of the licensing matters, including the cancellation of the approval of non-bank institutional shareholders for the first time or accumulative increase of less than 5% of equity; etc .; the exception of non-bank institutional shareholders not being allowed to transfer their equity within 5 years, etc.
Data map: China Banking Insurance Regulatory Commission. Photo by China Press Agency reporter Jia Tianyong
Talking about the measures to simplify the administration and decentralization of the amendments to the Measures, the person in charge of the relevant departments of the China Banking Regulatory Commission stated that the first is to cancel some of the licensing matters. It mainly includes: cancellation of approval of non-bank institutional shareholders for the first time or accumulative increase of less than 5% of equity; cancellation of changes in domicile due to administrative divisions and other reasons; approval of changes in articles of association caused by changes in shareholder names; cancellation of directors and Permissive matters such as senior management's transfer of positions at the same level (part-time at the same level) or reassignment (part-time) to lower positions, foreign professional subsidiaries of financial leasing companies, and overseas subsidiaries of financial companies' appointment of directors and executives from overseas Approval.
The second is to simplify some approval processes. Mainly include: simplifying the procedures for the approval of mergers of non-bank institutions, stipulating that relevant licensing matters such as changes in equity and registered capital caused by mergers of non-bank institutions can be applied for together with the merger; the merger of financial asset management companies to invest in domestic and foreign legal person financial institutions "Access" and "Exit" licensing procedures.
In addition, the revised Measures refer to the relevant provisions of the Interim Measures for the Management of Equity Interests of Commercial Banks to strengthen the penetrating supervision of major shareholders of non-bank institutions, their affiliates, and parties acting in concert. In the case of shareholder prohibitions, capital replenishment obligations, The content of the company's articles of association and other aspects have been further improved, and the exception of non-bank institutional shareholders who are not allowed to transfer their shareholdings within 5 years has been added.
Combined with the relevant requirements of the "Guiding Opinions on Strengthening the Supervision of Non-Financial Enterprises' Investment and Financial Institutions", the financial indicators such as the continued profitability of non-financial enterprises as controlling shareholders of non-bank institutions and the proportion of equity investment balances should be appropriately increased.
At the same time, increase the number of shareholders' non-bank institutions in the number of provisions. Combined with regulatory practice, it is clear that the number of non-bank institutions in which the same investor and its controlling shareholder, de facto controller, controlling subsidiary, concert party, de facto controller or joint control of other enterprises as major shareholders of non-bank institutions do not exceed 2 Of which there should be no more than 1 shareholding or no more than 2 shares in the same type of non-bank institutions.