Zhongxin Finance, June 2. According to the website of the China Banking and Insurance Regulatory Commission on the 2nd, Bank of China Co., Ltd. was fined 2 million yuan, Bank of China Wealth Management Co., Ltd. was fined 4.6 million yuan, and China Everbright Bank Co., Ltd. was fined 4 million yuan. Everbright Wealth Management Co., Ltd. was fined 4.3 million yuan.
The Bank of China's wealth management business has the following violations of laws and regulations: The scale of old products rebounded at some points in time.
The Bank of China wealth management business has the following violations of laws and regulations:
1. The market value of a single securities held by a public wealth management product exceeds 10% of the net assets of the product
2. The market value of a single security held by all public wealth management products exceeds 30% of the market value of the security
3. The leverage level of open-end public wealth management products exceeds the standard
4. There is unfairness in transactions involving the same counterparty and the same underlying assets under the same contract
V. Valuation of investment assets of wealth management products using the amortized cost method in violation of regulations
6. The identification of the related legal person by the wealth management company does not meet the regulatory requirements
Everbright Bank’s wealth management business has the following violations of laws and regulations:
1. The scale of old products rebounded at some points in time
2. The custodian institution fails to timely detect that the concentration of wealth management products exceeds the standard
3. The custody business violates the requirements of asset independence and the operation management is not in place
Everbright wealth management business has the following violations of laws and regulations:
1. The market value of a single publicly offered securities investment fund held by a public wealth management product exceeds 10% of the net assets of the product
2. The market value of a single security held by all public wealth management products exceeds 30% of the market value of the security
3. The proportion of high-liquidity assets held by open-ended public wealth management products does not meet the standard
4. There are hidden risks in the use of third-party mobile office platforms, and the effectiveness of information system management and control is insufficient
V. Inconsistent and inaccurate publicity of wealth management products