China News Service, June 17th. According to the website of the China Banking and Insurance Regulatory Commission, in order to improve the corporate governance of bancassurance institutions, strengthen the supervision of shareholder equity, and effectively prevent financial risks, the China Banking and Insurance Regulatory Commission formulated the "Measures for the Supervision of the Behavior of Major Shareholders of Banking and Insurance Institutions (Trial)" ( Draft for soliciting comments, hereinafter referred to as the "Measures").
A few days ago, the public solicited opinions.
The "Measures" as a special regulatory provision for the behavior of major shareholders, a total of eight chapters and fifty-eight articles, including general rules, shareholding behavior, governance behavior, transaction behavior, liability and obligations, bancassurance agency responsibilities, supervision and management, and supplementary provisions.
The "Measures" adhere to the problem-oriented approach, fully absorb and integrate existing regulatory regulations, focus on learning from good practices at home and abroad, and put forward specific requirements for the relevant behavior of major shareholders.
The first is to strictly regulate and restrict the behavior of major shareholders, and explicitly prohibit major shareholders from improperly interfering in the normal operation of bancassurance institutions, using the name of licensed institutions to conduct improper publicity, entrusting or accepting entrusted by others to participate in general meetings of shareholders, and using equity to provide guarantees for debts of non-related parties Wait.
The second is to further strengthen the responsibilities of major shareholders, require major shareholders to actively learn and understand regulatory regulations and policies, cooperate with the dynamic management of related transactions, formulate and improve internal working procedures, and support banks and insurance institutions with insufficient capital and greater risks to reduce or not pay cash dividends Wait.
The third is to unify the regulatory standards of bancassurance institutions, clarify that major shareholders whose equity pledge ratio exceeds 50% shall not exercise voting rights, and prohibit bancassurance institutions from purchasing or providing guarantees for non-publicly issued bonds of major shareholders, and directly or indirectly cross-holding with major shareholders. Shares etc.
The fourth is to consolidate the main responsibilities of bancassurance institutions. The "Measures" detailed the requirements and procedures for equity management, requiring bancassurance institutions to formulate a list of rights and obligations of major shareholders and a list of negative behaviors, regularly verify and master major shareholder information, and conduct annual reports on major shareholders. Evaluate and report to all shareholders. Major shareholders who abuse shareholder rights and cause losses to bancassurance institutions shall be compensated in accordance with the law, and their rights and interests shall be actively protected.
In the next step, the China Banking and Insurance Regulatory Commission will extensively listen to opinions and suggestions from all parties, further revise and improve the "Measures" and publish and implement them in due course.