China News Service, January 8th. According to the website of the China Banking and Insurance Regulatory Commission, recently, the China Banking and Insurance Regulatory Commission has severely investigated and dealt with a number of violations of laws and regulations. China Development Bank, China Bank of China Financial Leasing Co., Ltd. (hereinafter referred to as China Bank of China Leasing), and Industrial and Commercial Bank of China Limited (hereinafter referred to as Industrial and Commercial Bank of China), Postal Savings Bank of China (hereinafter referred to as PSBC), China Great Wall Asset Management Co., Ltd. (hereinafter referred to as Great Wall Company), Great Wall Xinsheng Trust Co., Ltd. (hereinafter referred to as Great Wall Xinsheng Trust) ), Great Wall West China Bank Co., Ltd. (hereinafter referred to as Great Wall West China Bank) and many other financial institutions and related responsible personnel have made administrative punishment decisions in accordance with the law, with a total fine of 199.5 million yuan.
The China Development Bank imposed a fine of 48.8 million yuan in accordance with the law in response to China Development Bank’s financing of illegal government purchases of service projects and illegal collection of loan commitment fees for small and micro enterprises. For violations of laws and regulations, a fine of 1 million yuan was imposed in accordance with the law; at the same time, two responsible persons were warned and punished.
The China Banking and Insurance Regulatory Commission imposed a fine of 54.7 million yuan in response to various violations of laws and regulations, such as the investment of ICBC's wealth management funds in other banks' credit asset income rights or non-standard asset income rights, and inadequate disclosure of wealth management product information.
The China Banking and Insurance Regulatory Commission imposed a fine of 45.5 million yuan in accordance with law in response to a number of violations of laws and regulations, such as the issuance of capital protection commitments for non-guaranteed wealth management products by some branches of Postal Savings Bank of China, and the issuance of financial investment lists that are inconsistent with the facts; at the same time, two responsible persons were warned separately Also imposed a fine of 100,000 yuan and an administrative penalty of 50,000 yuan.
The China Banking and Insurance Regulatory Commission imposed a fine of 46.9 million yuan in response to Great Wall’s illegal provision of external guarantees, inflated book profits, appraisal profits and over-issuance of performance awards; for its subsidiary Great Wall Xinsheng Trust’s illegal establishment of subsidiaries and mortgages For serious and imprudent violations of laws and regulations, a fine of 1.5 million yuan was imposed in accordance with the law; another subsidiary, Great Wall West China Bank, illegally accepted the bank’s equity as a pledge to provide shareholders with a fine of 500,000 yuan in violation of laws and regulations; At the same time, 9 responsible persons were given warnings and a fine of 50,000 yuan was imposed on administrative penalties, and 1 responsible person was given a warning and punishment.
This administrative penalty is mainly based on the violations of laws and regulations discovered by the Commission on the on-site inspection of Great Wall's risk management and internal control effectiveness. The relevant facts related to Sang Ziguo's serious violations of discipline and laws will be handled by the competent authority in another case.
The China Banking and Insurance Regulatory Commission will continue to vigorously rectify various financial chaos, create a clean financial environment, strengthen financial support for the real economy, effectively maintain financial security, and hold the bottom line of avoiding systemic risks.