China Economic Network Beijing, October 27, 2019 The website of the China Banking and Insurance Regulatory Commission today released the Lishui Supervision Sub-bureau Administrative Penalty Information Disclosure Form (Liyin Insurance Supervision decision [2021] No. 15), Zhejiang Qingyuan Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Zhejiang Qingyuan Rural Commercial Bank") has "illegal custody of important items", "illegal flow of credit funds into the real estate market", "failure to seriously verify the business license provided by the borrower, transaction background and other information, credit review seriously failed", the facts of violation of laws and regulations, The Lishui Supervision Branch of the Banking and Insurance Regulatory Commission imposed a fine of RMB1.05 million on him.
Shen Congyuan and Wu Jiahui were directly responsible for failing to seriously verify the business license, transaction background and other information provided by the borrower, and the credit granting review was seriously failed to perform their duties and violations of laws and regulations.
The above-mentioned administrative penalties are based on Articles 46 and 48 of the Banking Supervision and Administration Law of the People's Republic of China.
Article 46 of the Banking Supervision and Administration Law of the People's Republic of China: In any of the following circumstances, a banking financial institution shall be ordered by the banking regulatory authority under the State Council to make corrections and shall be fined not less than 200,000 yuan but not more than 500,000 yuan; if the circumstances are particularly serious or the correction is not made within the time limit, it may be ordered to suspend business for rectification or revoke its business license; if it constitutes a crime, it shall be investigated for criminal liability in accordance with law:
(1) Appointing directors or senior management personnel without the qualification review of their position;
(2) Refusing or obstructing off-site supervision or on-site inspections;
(3) Providing false or concealed statements, reports, and other documents or materials;
(4) Failing to follow provisions to disclose information;
(5) Seriously violating prudent business rules;
(6) Refusing to carry out the measures provided for in Article 37 of this Law.
Article 48 of the Banking Supervision and Administration Law of the People's Republic of China: Where a banking financial institution violates laws, administrative regulations and the relevant provisions of the State on banking supervision and management, the banking regulatory authority may, in addition to the penalties provided for in Articles 44 to 47 of this Law, take the following measures in different situations:
(1) Order banking financial institutions to give disciplinary sanctions to directly responsible directors, senior management personnel and other directly responsible personnel;
(2) Where the conduct of a banking financial institution does not constitute a crime, the directly responsible directors, senior management personnel and other directly responsible personnel shall be given a warning and fined not less than 50,000 yuan but not more than 500,000 yuan;
(3) Cancel the qualifications of directly responsible directors and senior management personnel for a certain period of time up to life, and prohibit directly responsible directors, senior management personnel and other directly responsible personnel from engaging in banking industry work for a certain period of time up to life.
The following is the full text:
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