China Banking and Insurance Regulatory Commission announced nine fines on the day, six state-owned banks and other fines were fined 19.7 million yuan
China News Agency, Beijing, May 9 (Reporter Wang Enbo) The official website of the China Banking and Insurance Regulatory Commission posted 9 fines at a time on the 9th, involving 8 banks, including six state-owned banks, with a fine of 19.7 million yuan (RMB, Same below).
Among them, the Agricultural Bank of China is not in compliance with the laws and regulations due to serious data transaction information underreporting, credit asset transfer business underreporting, etc. due to regulatory standardization data (EAST) system data quality and data submission. 2. The credit funds were misappropriated as security deposits and received two fines for a total of 4.3 million yuan.
There are also many violations of laws and regulations regarding the data quality and data reporting of the above system of the Bank of China, including underreporting of the number of wealth management products, serious underreporting of capital transaction information, and underreporting of trade financing business. According to Article 46 of the "Law of the People's Republic of China on Banking Supervision and Administration" and related internal control management and prudent operation regulations, the China Banking Regulatory Commission imposed a total fine of 1.6 million yuan.
In addition, four other large state-owned banks including Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, and China Postal Savings Bank were also fined for different reasons. At the same time, the banks that received the fines included two joint-stock banks, China CITIC Bank and China Everbright Bank. The amount of the above-mentioned fines has reached the level of one million yuan.
In recent years, China's financial supervision has been continuously strengthened, the market chaos stock problem has continued to decrease, the increase problem has been effectively contained, and a number of major illegal fund-raising cases have been severely investigated and dealt with. According to data from the China Banking Regulatory Commission, in 2019, the whole system punished 2,849 bank insurance institutions and 3,496 person-in-charges, with a total fine of 1.449 billion yuan. (Finish)