The Paper's reporter Ge Jia
Another third-party fund sales agency was punished by the regulator.
On June 7, the Zhejiang Securities Regulatory Bureau issued a market ban decision, saying that due to illegal facts such as publicizing and recommending to unspecified targets, promising that the principal would not be lost, or promising a minimum return, Wei Jie, the actual controller of Jinguancheng Fund Sales Co., Ltd. (formerly known as "Zhejiang Jinguancheng Wealth Management Co., Ltd.", hereinafter referred to as "Jinguancheng"), and Jiang Xueqi, chairman and general manager, were banned from the securities market for 10 years and 5 years respectively.
In addition, the Zhejiang Securities Regulatory Bureau also imposed three administrative penalties on Jin Guancheng, namely: first, ordered Jin Guancheng to make corrections, gave a warning, and imposed a fine of 30,000 yuan; second, gave a warning to Wei Jie and imposed a fine of 30,000 yuan; third, gave a warning to Jiang Xueqi and imposed a fine of 30,000 yuan.
In this regard, some insiders pointed out that the regulator has rarely imposed a market ban on the person in charge of a third-party fund sales agency, and the more common is to "order corrections" or "suspend fund sales business", and there may be other related matters behind it to be further disclosed by the relevant departments.
The honest controller and chairman of Jinguan who were banned from the market are both "post-80s"
According to the "Decision on Market Prohibition" issued by the Zhejiang Securities Regulatory Bureau, Wei Jie and Jiang Xueqi, who were punished this time, are both "post-80s".
Wei Jie, aged 40, was born in February 1981; Jiang Xueqi, aged 37, was born in January 1984. Both men live in Xihu District, Hangzhou, Zhejiang Province.
According to the "Decision on Market Prohibition", Jin Guancheng has the following illegal facts:
The first is to promote and promote to unspecified targets.
Jin Guancheng directly or indirectly promotes and promotes to unspecified targets by making strange phone calls, sending information, organizing customer referrals, and signing contracts with third-party channels to promote potential customers.
According to the data of Jinguancheng crm system, all customer phone records of the company exceed 3.5 million. From February to June 2018, Jinguancheng raised a total of 314.1 million yuan through the referral of old customers. From January 2017 to May 2018, 12 third-party institutions introduced 32 customers to Jinguancheng, raising a total of 997 million yuan and paying channel fees of 11.9777 million yuan.
The second is to promise that the principal will not be lost or promise a minimum return.
The Zhejiang Securities Regulatory Bureau pointed out that as a fund sales agency, Jinguancheng has the expectation of directly promising to guarantee the principal and guaranteed income in the process of fund raising, or guiding investors to form the principal and guaranteed income of related products by publicizing the redemption of previous products in accordance with the agreed rate of return, emphasizing that the raised products have fixed income and local government background.
The above-mentioned illegal facts are proved by evidence such as the filing information of the Asset Management Association of China, relevant fund contracts, electronic evidence collection screenshots, interrogation records, referral reward lists, channel sales statistics tables, etc., which are sufficient to determine.
According to the Zhejiang Securities Regulatory Bureau, the above two illegal facts violated the provisions of Articles 14 and 15 of the Private Placement Measures, respectively. As the actual controller of Jinguancheng, Wei Jie enjoys the final decision-making power in the investment, fundraising, sales and management of the relevant private equity funds, and is responsible for the overall affairs of Jinguancheng, and is the person in charge directly responsible for this case. Jiang Xueqi, as the chairman and general manager of Jinguancheng, is responsible for the fundraising of Jinguancheng's daily fund and is the person in charge who is directly responsible for this case.
Therefore, in accordance with Article 39 of the Private Placement Measures and Articles 3 and 5 of the Provisions on prohibition of access to the Securities Market (Order No. 115 of the Securities Regulatory Commission), it was decided to impose a 10-year ban on Wei Jie from the securities market and a 5-year ban on Jiang Xueqi from the securities market.
The Zhejiang Securities Regulatory Bureau said that since the date of announcing the decision, the parties concerned may not continue to engage in securities business in the original institution or serve as a director, supervisor or senior management of the original listed company or unlisted public company during the period of prohibition, nor may they engage in securities business in any other institution or hold the position of director, supervisor or senior management of other listed companies or unlisted public companies.
If the parties concerned are dissatisfied with the decision to ban access to this market, they may apply to the CHINA Securities Regulatory Commission for administrative reconsideration within 60 days of receiving this decision, or they may directly file an administrative lawsuit with the people's court with jurisdiction within 6 months from the date of receipt of this decision. During the period of reconsideration and litigation, the implementation of the above-mentioned decision shall not be suspended.
In addition, another "Administrative Punishment Decision" released on the same day disclosed three other administrative penalties imposed on Jin Guancheng by the Zhejiang Securities Regulatory Bureau, namely: first, Jin Guancheng was ordered to make corrections, given a warning, and fined 30,000 yuan; second, Wei Jie was given a warning and fined 30,000 yuan; third, Jiang Xueqi was given a warning and fined 30,000 yuan.
The above-mentioned administrative penalties were paid on May 31.
Previously, it has been named by the regulatory authorities several times and required to rectify it
In fact, this is not the first time that Jin Guancheng has received a fine from the securities regulatory system.
Before the announcement of the market ban decision, Jin Guancheng had been frequently exposed to internal control problems and even the risk of payment, and was repeatedly named by the regulatory authorities and required to rectify.
On July 5, 2016, the Zhejiang Securities Regulatory Bureau issued a decision on ordering Jin Guancheng to correct regulatory measures. Due to the failure of investors to meet the conditions of qualified investors before the sale of funds, the failure to assess investors' risk identification ability and risk bearing capacity when selling the fund, and the promotion of private fund products by individual sales personnel before obtaining fund qualifications, it was decided to take corrective regulatory measures against Jinguancheng and require rectification to be completed by July 31, 2016.
On April 25, 2018, the Zhejiang Securities Regulatory Bureau again took a regulatory talk against Jinguancheng legal person, because in the process of carrying out the special inspection of private funds in 2018, Jinguancheng did not cooperate with the on-site inspection work.
On May 23, 2018, the Zhejiang Securities Regulatory Bureau said that Jinguancheng had borrowed the business premises of related parties to sell private fund products and publicly exaggerated publicity, reflecting that there were major problems in the company's internal control and greater risks in operation and management, so it decided to take administrative supervision measures to order corrections and suspend fund sales related business for 12 months.
Since then, Invesco Great Wall, Anxin Fund, Cathay Fund, E Fund and other public offerings have issued announcements, saying that Jinguancheng has suspended the relevant sales business of its funds.
On November 23, 2018, the Zhejiang Securities Regulatory Bureau said that it would not lift the correction and suspension of business measures related to fund sales against Jin Guancheng.
On January 17, 2019, the Zhejiang Securities Regulatory Bureau issued a correction decision to Jin Guancheng for the third time and once again suspended its fund sales related business for 12 months.
In addition to being repeatedly named by regulators, Jincheng Wealth Group Co., Ltd. ("Jincheng Group"), the actual shareholder of Jinguancheng, has also been suspected of illegal fundraising.
According to tianyancha information, the suspected actual controller of Jinguancheng is a wholly-owned company under the "Jincheng Group" that has thundered.
According to the Gongshu police notice released by Ping An Gongshu's official Weibo at the time, on April 28, 2019, the Gongshu District Bureau of the Public Security Bureau of Hangzhou City, Zhejiang Province, took criminal compulsory measures against Wei Mou (male, 38 years old), the actual controller of Jincheng Group, and related personnel involved in the case in accordance with the law.
Editor-in-Charge: Wang Jie
Proofreader: Ding Xiao