Zhongxin Finance, June 14. According to the website of the China Securities Regulatory Commission on the 14th, recently, some media reported that the China Securities Regulatory Commission held meetings in Shanghai and Beijing this year, requiring foreign investment banks to report the details of executive compensation, and proposed not to pay executives too high. .

In this regard, the person in charge of the relevant departments of the China Securities Regulatory Commission stated that the above-mentioned reports are false news, and the China Securities Regulatory Commission, relevant securities regulatory bureaus and industry associations have not held the above-mentioned meetings.

  The person in charge said that the salary system is an important part of corporate governance, and the establishment of a scientific and reasonable salary system is the basis for maintaining the core competitiveness of the industry and the basis for maintaining the stable and sustainable development of the industry.

Global regulatory authorities have paid more attention to the compensation incentive-related system in recent years, in order to prevent financial risks caused by excessive speculation and excessive incentives.

The Financial Stability Board (FSB) pointed out when summarizing the lessons of the 2008 financial crisis: "The high compensation of large financial institutions is based on short-term high profits, ignoring the long-term risks of financial enterprises, and is one of the main factors leading to the financial crisis."

Countries such as Europe and the United States and international organizations have successively formulated relevant regulatory systems and rules for compensation management in the financial industry. For example, the Financial Stability Forum (FSF) issued the Principles of Sound Compensation Practices, the European Union issued the Fourth Capital Requirements Directive, and the Federal Reserve issued the Financial Stability Forum (FSF). "Company Compensation Policy Supervision Plan" to supervise the remuneration of financial practitioners to prevent executives from taking excessive speculation in order to obtain high salaries.

  In order to guide industry institutions to establish a stable salary system, improve the salary incentive and restraint mechanism, and promote the high-quality development of the industry.

Recently, the securities industry association and the fund industry association have issued compensation management guidelines on the basis of fully listening to the opinions and suggestions of the industry in conjunction with the industry associations, reflecting the respect for the basic laws of the market, the actual situation of the industry, and the consolidation of the main responsibility of the institutions. , The basic idea of ​​preventing short-term excessive incentives, aiming to consolidate the governance foundation, risk control foundation, compliance foundation, cultural foundation and talent foundation for the development of the industry, better and effectively serve the real economy and prevent financial risks. It does not involve the total salary and specific operation methods.

The core system includes: strengthening the long-term incentive and restraint mechanism, and implementing the salary deferred payment arrangement.

It is clearly not allowed to carry out business through contracting, personnel affiliation, etc., and the salary income of employees shall not be directly linked to the income of the projects they undertake or undertake.

Establish and improve the bonus co-investment mechanism for core employees such as management management and fund managers, and implement a bonus recovery and deduction system for those responsible for violations.

Support the securities and fund industry to explore and implement a diversified long-term incentive and restraint mechanism, and weaken the assessment proportion of indicators such as scale ranking, short-term performance, income and profit.

  In recent years, in accordance with the unified deployment of the country's financial industry to open up to the outside world, the China Securities Regulatory Commission has adhered to the principles of marketization, rule of law, and internationalization, relaxed and abolished the restrictions on foreign shareholding in securities and fund management institutions, and has approved 11 foreign-owned securities and fund companies to operate in China. The overall operation and development of the institution is good, and I will supervise it in accordance with laws and regulations, and fully respect the autonomy of the institution's business decision-making.

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