The China Insurance Regulatory Commission Decision On Amending The Regulations On Insurance Brokers

Original Language Title: 中国保险监督管理委员会关于修改《保险经纪机构监管规定》的决定

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Read the untranslated law here: http://www.chinalaw.gov.cn/article/fgkd/xfg/gwybmgz/201311/20131100393572.shtml

The China insurance regulatory Commission decision on amending the regulations on insurance brokers

    (April 27, 2013, China insurance regulatory Commission [2013] 6th release come into force on the date of promulgation), China insurance regulatory Commission decided to make the following modifications to the regulations on insurance brokers:

    And eighth amended as: "establishment of insurance brokers, the minimum amount of the registered capital of RMB 50 million Yuan, except as otherwise stipulated by the Circ. Insurance broker registered capital must be paid up capital of the company.

    ”

    Second, by deleting article 13th.

    Purposes from the date of publication of this decision.

    The regulations on insurance brokers, based on corresponding changes were made to this decision, publish it again.

    Report: insurance broker regulation 2013 (revised) (September 25, 2009, 2009 6th China insurance regulatory Commission, published on April 27, 2013, the China insurance regulatory Commission on amendments to the regulation of insurance brokers, the revision of the decision)

    Chapter I General provisions

    First in order to standardize the insurance broker's business practices, protecting the legitimate rights and interests of the insured, to maintain market order and promoting the healthy development of the insurance industry, according to the People's Republic of China insurance (hereinafter referred to as the Insurance Act) and other laws and administrative rules and regulations, this provision is enacted.

    Article insurance brokers in these rules refers to the interests of policy holders, provide intermediary services for the insured and the insurance company enters into an insurance contract, and according to the agreed Commission bodies, including insurance brokers and their branch offices.

    People's Republic of China established insurance brokerage institutions, shall comply with the China insurance regulatory Commission (hereinafter referred to as the CIRC) eligibility conditions under, business insurance broker license (hereinafter licence).

    Article insurance broker shall abide by the laws, administrative regulations and the relevant regulations of the China insurance regulatory Commission, the principles of voluntariness, honesty and fair play.

    Fourth fault insurance brokering companies to policyholders and insured losses, shall be liable.

    Article fifth Chinese insurance under the Insurance Act and authorized by the State Council, the insurance broker to perform supervisory duties.

    Agency of the China insurance regulatory Commission, perform his supervisory duties within the scope of authority of the Circ.

    Chapter access

    Section I establishment

    Article sixth unless otherwise prescribed by the China insurance regulatory Commission, the insurance broker shall take the following form:

    (A) the limited liability company;

    (B) limited.

    Article seventh insurance brokerage company, subject to the following conditions:

    (A) shareholders, sponsors in good standing, the last 3 years has no record of serious violations;

    (B) the registered capital of the People's Republic of China Act (hereinafter referred to as the Act) and the minimum limit;

    (C) comply with the relevant provisions of the Constitution of the company;

    (D) the Chairman and the Executive Directors and senior management in accordance with the prescribed qualifications;

    (E) have a sound organizational structure and management system;

    (Vi) there is commensurate with the scale of permanent residence;

    (VII) commensurate with the business of business, financial, and computer hardware and software;

    (H) the laws, administrative regulations and other conditions stipulated by the Circ.

    Article eighth insurance brokers, the minimum amount of the registered capital of RMB 50 million Yuan, except as otherwise stipulated by the Circ.

    Insurance broker registered capital must be paid up capital of the company.

    Nineth according to laws, administrative rules and regulations cannot be investment units or individuals, does not sponsor or shareholder insurance brokerage company.

    Investment company of insurance brokers insurance company employees, shall notify the insurance companies; insurance companies, insurance intermediaries, Director or Senior Manager investment company of insurance brokers, should be in accordance with the relevant stipulations of the shareholders of the company law or the consent of the general meeting of shareholders.

    Article tenth insurance brokers should be included in the name of "insurance broker" typeface and font size shall not be the same as the existing insurance intermediaries, except otherwise stipulated by the Circ.

    Section 11th for setting up an insurance brokerage company, all shareholders, all the promoters should be appointed representative or jointly entrusted agent applying to the China insurance regulatory Commission. 12th branches of an insurance brokerage company including branch, Business Department.

    Insurance broker company applying for the establishment of a branch shall satisfy the following conditions:

    (A) the integrity of the internal control system;

    (B) meet the requirements of this provision of the registered capital;

    (C) the functioning of existing institutions, and no major violation within 1 year prior to the application;

    (D) the Chief to be appointed in accordance with the prescribed qualifications;

    (E) the branches have to be established to meet the requirements of business premises and other business-related facilities.

    13th China insurance regulatory Commission after receiving the application for insurance brokers to set up, you can risk the applicant suggests that talks on applications for the establishment, inquiries, understanding of proposed branch of the market development strategy, business development, internal control systems, personnel structure and other related matters.

    Circ may organization site acceptance according to actual needs.

    14th China insurance regulatory Commission to approve the establishment of insurance agencies shall issue licenses to applicants.

    Upon receipt of the license of the applicant, shall, in accordance with the relevant provisions of industrial and commercial registration, license before they can practice.

    Insurance brokers license within 90 days of the date, without a legitimate reason not to register with the Administrative Department for industry and commerce, their licenses lapse.

    15th lawfully established an insurance broker shall from the date of registration in the 20th, written reports, China insurance regulatory Commission.

    16th Division, merger or change of an insurance broker company form, shall be approved by the China insurance regulatory Commission.

    17th an insurance broker in any of the following circumstances, it should be since the date of the event in the 5th, CIRC written report:

    (A) the change of name or branch name;

    (B) change of domicile or branch business premises;

    (C) the sponsor, major shareholders change name or title;

    (D) change of major shareholders;

    (E) changing registered capital;

    (F) ownership structure changes;

    (G) amend the company's articles;

    (H) revocation of branches.

    18th change involving insurance brokers license contents, shall be returned to the original license and obtain a new license, and in accordance with the relevant provisions of the administrative measures for insurance licenses for announcements.

    19th insurance broker company license is valid for 3 years, before 30th of expiry of insurance brokers shall, apply to the China insurance regulatory Commission for an extension. Renewal of the license, an insurance brokerage company, the China insurance regulatory Commission licenses prior to the expiry of the insurance brokerage company the first 3 years of operation a comprehensive review and evaluation, and make a decision on whether to approve an extension license.

    Decides not to continue, and shall state the reasons in writing.

    Insurance brokers shall, from the date of receipt of the decision in the 10th to surrender the original certificate of the CIRC; approve the extension of validity, should receive a new license.

    Section II qualifications

    Article 20th senior managers of insurance brokers in these rules refers to the following persons:

    (A) insurance brokerage company's General Manager, Deputy General Manager or managers with the same terms of reference;

    (B) insurance brokerage firm Branch Chief.

    21st insurance broker to be appointed Chairman, Executive Directors and senior management officers shall meet the following conditions, and approved by the China insurance regulatory Commission:

    (A) University degree or above;

    (B) holders of qualification certificates stipulated by the Circ;

    (C) engaged in economic work for more than 2 years;

    (D) have management capabilities required to perform their duties, be familiar with insurance laws, administrative regulations and the relevant provisions of China insurance regulatory Commission;

    (E) the honest and trustworthy, of good character.

    Engaged in financial work for more than 10 years, is not subject to the preceding paragraph (a) the restrictions served as senior managers of financial institutions for more than 5 years or management positions for more than 10 years, may not be subject to subparagraph (b) limits.

    147th article 22nd company law article or one of the following persons may not serve as insurance brokerage agency Chairman and Executive Directors or senior managers:

    (A) as was revoked licenses for illegal insurance companies or insurance intermediaries the directors, supervisors or senior management personnel, and on the personal responsibility of the revoked license or direct leadership responsibilities, from the date the license was revoked less than 3 years;

    (B) for violation of law or discipline financial institutions by financial regulators to cancel the qualification of the directors, supervisors or senior management personnel, cancellation is not more than 5 years from the date of qualification;

    (C) is prohibited within a certain period by financial regulators in the financial world, the term is not full;

    (D) supervised by the financial institutions a warning or a fine of not more than 2 years;

    (E) is subject to judicial organs and discipline inspection and supervision departments or financial regulator survey;

    (Vi) other circumstances as stipulated by the Circ.

    Article 23rd non-approved by the shareholders ' meeting or general meeting of shareholders, insurance broker company directors and senior managers of institutions shall not be in conflict of interest in part-time positions.

    Article 24th insurance brokers submitted to Circ Chairman, Executive Directors and senior management the qualification approval application, shall fill in the application form, submit the relevant materials.

    Insurance brokers can be proposed by the CIRC Chairman, Executive Directors and senior management personnel to inspect or conversation.
25th insurance agency Chairman, Executive Director and senior management personnel in the insurance brokerage agencies within, act as peer or subordinate position, again without approved qualifications.

    Insurance brokers decided to dispense with the Chairman, Executive Directors and senior management positions or agreeing to resign, their qualifications since the date of the decision void.

    Insurance broker appointment and removal of the Chairman, Executive Directors and senior managers, it should be since the date of the decision in the 5th, written reports, China insurance regulatory Commission.

    Article 26th insurance broker's Chairman, Executive Director and Senior Manager indicted for alleged involvement in economic crimes, insurance brokers shall be from the date of the filing of the suit within 5th and closing date of the 5th in the written report to the Circ. 27th appointed interim head of insurance brokers in exceptional circumstances, shall from the date of appointment decisions within 5th written reporting to the Circ.

    Interim Head of time shall not exceed 3 months.

    Chapter III rules

    Section I General provisions

    28th insurance brokers license should be placed at domicile or place of prominent positions.

    29th insurance broker insurance brokerage may have the following:

    (A) pay to the applicant in the preparation programme, select the insurance companies and the insurance formalities;

    (B) assist the insured or the beneficiary claims;

    (C) reinsurance brokerage business;

    (D) for the client to provide prevention, loss prevention or risk assessment, and risk management consulting services;

    (E) other business approved by the China insurance regulatory Commission.

    Article 30th insurance brokers in the People's Republic of China territory of insurance brokering activities.

    31st insurance brokerage employees shall comply with the conditions stipulated by the CIRC, holds qualification certificates stipulated by the Circ.

    Insurance brokerage practitioners in these rules refers to the insurance broker, developed for an applicant or an insured insurance plan, handling insurance claims for procedures, assisting personnel, or for the client to provide disaster-loss prevention, risk assessment, risk management consulting, personnel engaged in the reinsurance brokerage business.

    Article 32nd insurance brokers to insurance institutions in China should be on the Agency's legal and operational knowledge of training and education.

    Practitioners received training of insurance brokers shall not be less than 80 hours, per year after induction training and education time shall not be less than 36 hours, received his legal training and education of professional ethics of the time which shall not be less than 12 hours.

    Article 33rd insurance brokerage agencies should set up special account books record insurance broking business income and expenses. Insurance broker shall open a special account separate client funds.

    Payments can only be deposited in the special account for client funds:

    (A) the insured person, the insured pays premiums to insurance companies;

    (B) for the insured, the insured and beneficiaries bring back premiums, insurance.

    Article 34th insurance broker shall establish a filing of the complete specification, business archives shall at least include the following:

    (A) by the institutions mainly in the policy, include the name of the insurer, the insured, the insured or the name, product name, amount, insurance, payment methods, etc;

    (B) Commission amount and collection;

    (C) delivery of premium insurance company, insurance or surrender the gold collected as well as the delivery of the policy holder, the insured or the beneficiary;

    (Iv) other business-critical information.

    Records of insurance brokers shall be true and complete. 35th insurance brokers in the insurance brokerage business, should enter into a written contract with the client, agreed rights and obligations of the parties according to law and other matters.

    Commission contract shall not violate the laws, decrees and relevant regulations of the China insurance regulatory Commission.

    Insurance brokers shall be in accordance with the agreement between the parties to an insurance contract for a Commission. Article 36th insurance brokerage agency in the course of business, shall draw up a specification for customer notification.

    Customer notification shall at least include the insurance broker's name, place of business, scope of business, contact and other basic issues.

    Insurance broker and its directors, senior managers and brokerage related to the link between insurance companies, insurance intermediaries, should be explained in the customer notification.

    Insurance brokers doing business in China should be presented to the customer the customer notice, customer requirements and instructions of Commission of means and proportions.

    Insurance broker should explain to the customer that the insurance products of insurers, recommended similar products should be comprehensive and fair analysis.

    37th insurance broker should be clearly prompted the insurance contract to the insured exemptions or exclusions, surrender and other expenses, cash value, hesitate to articles.

    Article 38th of insurance brokerage institutions shall apply for registration within 20th of insurance against professional liability insurance payment or deposit.

    Insurance brokers shall insure professional liability insurance or paid after the date of deposit in the 10th, will copy of professional liability insurance policy or guarantee deposit agreement copy of deposit accounted for copies of original documents submitted to the China insurance regulatory Commission.

    39th insurance brokers insurance against professional liability insurance, you should ensure that the insurance remains in force.

    Insurance brokers insurance against professional liability insurance for an accident compensation limit shall not be less than RMB 5 million, one-year cumulative limit shall not be less than RMB 10 million yuan in the policy, and shall not be less than twice times the insurance broker operating income a year earlier.

    Professional liability insurance indemnity reached RMB 50 million Yuan and can no longer increase the compensation amount of professional liability insurance.

    40th company paid margin of insurance brokers, the registered capital of 5% deposit, increase the registered capital of a company of insurance brokers, there should be a corresponding increase in margin; insurance brokerage firm margin deposit amounted to RMB 1 million Yuan and can no longer increase margin.

    Insurance brokerage margin shall deposit with any Bank, deposit or any other form approved by the China insurance regulatory Commission. Security deposit in the form of deposits paid, should be stored in the bank accounts. Margin deposits shall be stipulated in the agreement: "without the written approval of the China insurance regulatory Commission, insurance brokers are not allowed to use or dispose of margin. Obligations of the Bank does not review, should be used within the margin for insurance brokers bear joint and several liability for the debts of the company.

    ” 41st company of insurance brokers shall not use margin.

    However, except in the following circumstances:

    (A) reduction of the registered capital;

    (B) the licence cancelled;

    (C) the insured eligible professional liability insurance;

    (D) other circumstances as stipulated by the Circ.

    Section II prohibited conduct

    42nd insurance brokers shall forge, alter, lease, lend, transfer of licenses.

    43rd insurance broker business may not go beyond the scope of this provision the scope of article 29th.

    44th insurance brokers in the insurance brokerage business shall not exceed the insurer's business scope and operating areas; engaged in insurance brokerage business involves different coinsurance, remote underwriting business and master policy, otherwise provided by the China insurance regulatory Commission, from its provisions.

    Article 45th insurance brokers and their workers in the brokerage business in the process, without deception of the policyholder and the insured, the beneficiary or the insurance company of the following behavior:

    (A) concealment or fabrication and important information relating to the insurance contract;

    (B) misleading sales;

    (C) counterfeiting, modification of insurance contracts, selling fake insurance documents, or provide false documents for the parties to an insurance contract;

    (D) the obstacles induced by policyholders to fulfil the obligation, or it does not fulfil the obligation;

    (E) without a delegate of the policyholder, the insured or beyond the scope of fiduciary, conclusion or modification of the contract without authorization;

    (F) the fictitious insurance brokerage or fabricate surrender personal commissions;

    (G) the collusion with the applicant, the insured or a beneficiary defrauds;

    (VIII) other dishonest acts of the insured, the insured, beneficiary or the insurance company.

    Article 46th insurance brokers and their workers in the brokerage business in the process shall not be any of the following acts:

    (A) the use of executive power, shareholder advantage or professional convenience, as well as any other illegal means to force, induce or restrict the insured enters into an insurance contract or other legitimate business activities of insurance intermediaries;

    (B) misappropriation, interception, misappropriation of Golden insurance, surrender, or pensions;

    (C) given or promised to the insurance companies and their staff, an applicant, an insured or a beneficiary interests outside of the contract;

    (D) use of business facilities for other institutions or individuals seeking improper interests;

    (E) disclose in the course of business aware of the insured, the insured, the beneficiary or the insurance company trade secrets and personal privacy.

    47th an insurance broker shall not be fabricating and spreading false facts or other means to damage the business reputation of competitors, not false advertising, false advertising or unfair competition actions disturb the market order.

    48th an insurance broker shall not be unlawful to engage in insurance business or insurance intermediary business, institution or individual insurance brokerage business.

    49th insurance brokers are allowed to pay a fee or purchase an insurance product as a condition of hiring business people, not promised unreasonably high returns, shall not be directly or indirectly to the development the number of paid or sales in China as the main basis.

    Market withdrawal of the fourth chapter

    50th insurance brokerage company, one of the following circumstances, CIRC isn't renewed the license validity period:

    (A) the expiry date of the license, no renewal;

    (B) ceases to comply with the provisions other than article seventh on the conditions established by the company;

    (C) the internal management, not operating properly;

    (D) there are significant violations, does not have a valid rectification;
(E) is not required to pay regulatory fees.

    51st insurance brokers license has expired, the continuation not valid according to law by the CIRC, or permits withdrawn, cancelled or revoked by law, shall organize liquidation according to law or the insurance brokerage business by clearing, settlement reporting to the CIRC or settlement reports.

    52nd Division or merger of the company of insurance brokers need to disband, or according to the shareholders ' meeting, the shareholder resolution for dissolution of the Assembly, or as specified in the articles of dissolution occurs, should be approved by the China insurance regulatory Commission and then disbanded.

    53rd insurance brokering companies dissolved, shall from the date of dissolution resolution in the 10th to the China insurance regulatory Commission to submit two copies of the following materials:

    (A) an application for dissolution;

    (B) the dissolution resolution of the general meeting of shareholders or shareholders;

    (C) liquidation and liquidation of Heads of organizations and their programmes;

    (D) other materials stipulated by the Circ.

    After the completion of liquidation, the insurance broker shall submit to the China insurance regulatory Commission liquidation report.

    54th insurance broker company disbanded, found in the liquidation has been unable to repay debts and assets are insufficient to pay off the debt or the apparent lack of liquidity, it shall be filed for bankruptcy, liquidation and debts, in accordance with the statutory insolvency procedures.

    55th insurance brokerage business license is revoked, is revocation, is ordered to close or is declared bankrupt by court, it shall set up a group, in accordance with the statutory procedures for liquidation and settlement reporting to the Circ.

    56th insurance brokerage firms out of the market by one of the following circumstances, cancellation of licenses according to law by the CIRC, and make an announcement:

    (A) the expiry date of the license, the China insurance regulatory Commission isn't renewed in accordance with law;

    (B) the permit is withdrawn, revoked or cancelled by law;

    (C) insurance brokerage company is dissolved, is revoked business license, revoked, is ordered to close or is declared bankrupt according to law;

    (D) other circumstances as stipulated by laws and administrative regulations.

    Cancelled licenses of insurance brokers shall be promptly returned to the original license.

    57th branch of an insurance broker company any of the following circumstances, cancellation of licenses according to law by the CIRC, and make an announcement:

    (A) belongs to an insurance broker company license is cancelled according to law;

    (B) be owned insurance brokerage companies;

    (C) is ordered to close down or revoked according to law;

    (D) the permit is withdrawn, revoked or cancelled by law;

    (E) the provisions of laws and administrative regulations shall be revoked licenses of other cases.

    Cancelled license branches originals shall be returned to the license in a timely manner.

    Fifth chapter of supervision and inspection

    Article 58th of insurance brokers shall, in accordance with relevant regulations of the China insurance regulatory Commission timely, accurate, complete and submit reports, reports, documents and information submitted to the China insurance regulatory Commission requirements related to the electronic text.

    Insurance broker shall submit the reports and reports and information should be made by legal representatives, principals or their authorized signature, and affix the seal of the institution.

    59th insurance broker shall keep business records, account books, business ledgers, and Commission income the original receipts and other relevant information, retention calculated from the date of termination of the insurance contract, the insurance period by 1 year of not less than 5 years, during more than 1 year of insurance shall not be less than 10 years.

    60th insurance broker company shall deliver the regulatory fees to the account specified by the Circ.

    61st insurance broker shall, within 3 months after the end of each fiscal year the company hired the accounting firm of the company's assets, liabilities, profits and other financial audit and related audit report submitted by the Circ.

    Circ as needed, you can demand a specific external audit report from insurance brokers.

    62nd Circ in accordance with regulatory needs, insurance brokers can be Chairman and Executive Directors or senior management staff to monitor the conversation, requires a description of the major issues in their business activities.

    63rd Circ for insurance brokers to conduct an on-site inspection in accordance with law, including, but not limited to the following:

    (A) institution set up, whether the change is approved according to law or to fulfil their reporting obligations;

    (B) the capital is true, full;

    (C) deposit extraction and the use of compliance;

    (D) the professional liability insurance compliance;

    (E) the legality of the business;

    (Vi) financial situation is good;

    (G) report to the China insurance regulatory Commission, reports and data are timely, complete and true;

    (H) the internal control system is perfect, and the effective implementation;

    (I) appointing the Chairman, Executive Directors and senior management of compliance;

    (10) in China have effectively fulfilled their regulatory responsibilities;

    (11) the external announcement is timely, true;

    (12) computer configuration and system health is good.

    64th insurance brokers accept the China insurance regulatory Commission investigation for the following reasons, was ordered to stop by during the investigation, the China insurance regulatory Commission has the right to some or all of your business:

    (A) the alleged serious violations of insurance laws, administrative regulations and these regulations;

    (B) there is significant risk from operating activities;

    (C) do not operate properly.

    65th insurance agency shall, in accordance with the following requirements with the CIRC inspection work, and may not refuse or interfere with the Chinese insurance regulatory Commission shall supervise and check:

    (A) relevant documents and materials as required, without delay, transfer or concealment;

    (B) managers, financial officers and employees shall be required to be present to explain the situation, answering questions.

    66th an insurance broker in any of the following circumstances, the CIRC may be listed as key targets:

    (A) business or financial transactions;

    (B) failing to submit reports, statements or providing false reports, statements, documents and information;

    (C) the alleged significant violations or a China insurance regulatory Commission on administrative penalties;

    (D) the CIRC deems it necessary to focus on other cases.

    67th in on-site inspections, the CIRC may, delegate accounting firms and other intermediary organs to provide related services; commissioned the Agency to provide services, shall sign a written trust agreement.

    The China insurance regulatory Commission shall be informed of the matters entrusted to the insurance broker to be checked.

    68th thought insurance brokers check personnel who violate laws, administrative regulations and the relevant regulations of the China insurance regulatory Commission, can contribute to the CIRC report or complaint.

    Insurance broker is entitled to the China insurance regulatory Commission administrative measures administrative reconsideration or administrative litigation.

    The sixth chapter legal liability

    69th without approval, established insurance brokerage company without authorization or without a license, illegal in the insurance brokerage business, be banned by CIRC, confiscate the illegal income and illegal gains more than 1 time penalty of 5 times; not less than 50,000 yuan of illegal income or the illegal income, fines of between 50,000 yuan and 300,000 yuan.

    70th administrative license applicants to hide relevant information or provides false information to apply for the establishment of insurance brokers or other administrative licensing, inadmissible or not approved by the CIRC, and give a warning, the applicant may not apply again in 1 year the administrative license.

    71st licensee through fraud, bribery or other improper means to establish insurance broker or to obtain permission from the China insurance regulatory Commission on administrative, be revoked according to law by the CIRC, on the licensee in a warning and a fine of 10,000 yuan applicants allowed to re-apply in 3 of the administrative license.

    72nd insurance brokerage firms set up branches or changed form without approval, by the China insurance regulatory Commission ordered corrective action and penalty of between 50,000 yuan and 10,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning and a fine of between 10,000 yuan and 30,000 yuan.

    73rd article insurance brokers company without approved merged, and Division, and dissolved, or occurred 17th article by column matters not by provides report of, by China Circ ordered corrected, give warning, no illegal proceeds of, at 10,000 yuan following fine, has illegal proceeds of, at illegal proceeds 3 times times following fine, but highest shall not over 30,000 Yuan; on the institutions directly is responsible for of competent personnel and other responsibility personnel, give warning, at 10,000 yuan following fine.

    74th employment insurance brokers do not have the qualifications, qualification of personnel, by the China insurance regulatory Commission ordered corrective action and penalty of between 100,000 yuan and 20,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning and fined a maximum of between 50,000 yuan and 10,000 yuan.

    75th insurance brokers lease, lend, or transfer of licences, by the China insurance regulatory Commission ordered corrective action and penalty of between 100,000 yuan and 10,000 yuan in serious cases, closed for rectification or revoke the permit on the institution in charge and other personnel directly responsible for and give a warning and fined a maximum of between 50,000 yuan and 10,000 yuan.

    76th insurance broker has one of the following, by the China insurance regulatory Commission ordered corrective action and fined a maximum of 20,000 yuan and 100,000 yuan in serious cases, closed for rectification or revoke the permit on the institution in charge and other personnel directly responsible for and give a warning and fined a maximum of between 100,000 yuan and 10,000 Yuan:

    (A) the deposited security or unauthorized use of margin not according to stipulations;

    (B) does not requires insurance against professional liability insurance or does not maintain the continuity and effectiveness of professional liability insurance;
(C) in accordance with stipulations set up special account books record business income and expenses.

    77th article insurance brokers institutions beyond approved of business range engaged in business activities of, or and illegal engaged in insurance business or insurance intermediary business of units or personal occurred insurance brokers business between of, by China Circ ordered corrected, give warning, no illegal proceeds of, at 10,000 yuan following fine, has illegal proceeds of, at illegal proceeds 3 times times following fine, but highest shall not over 30,000 yuan.

    78th 36th insurance broker in violation of the provisions of the rules, was not made according to the rules, produces customer notification, by the China insurance regulatory Commission ordered corrective action and give a warning to fines of between 10,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning, fines of between 10,000 yuan.

    79th insurance brokers and their employees have to the article 45th, 46th, one of the circumstances listed, by the China insurance regulatory Commission ordered corrective action and fines of between 50,000 yuan and 300,000 yuan in serious cases, to revoke a permit; for the Agency in charge and other personnel directly responsible for and give a warning and fined a maximum of between 100,000 yuan and 30,000 yuan.

    80th insurance brokers and their employees in the insurance brokerage business in the process, to ask for or accept outside the contract of insurance companies and their staff remuneration, other property, or seek any other illegitimate interests by performing insurance brokerage, given a warning by the CIRC, fines of between 10,000 yuan.

    81st 47th insurance broker in violation of the provisions of the rules, given a warning by the CIRC, no illegal proceeds, fines of between 10,000 yuan, has illegally obtained, fined a maximum of 3 times the illegal income, but shall not exceed a maximum 30,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning, fines of between 10,000 yuan.

    82nd insurance broker has violated the provisions of article 49th, CIRC in a warning and a fine of 10,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning, fines of between 10,000 yuan.

    83rd article insurance brokers institutions not by this provides submitted or custody about report, and report, and file or information of, or not according to provides provides about information, and information of, by China Circ ordered deadline corrected; late not corrected of, at 10,000 yuan above 100,000 yuan following fine; on the institutions directly is responsible for of competent personnel and other responsibility personnel, give warning, and at 10,000 yuan above 50,000 yuan following fine.

    84th insurance broker has one of the following, by the China insurance regulatory Commission ordered corrective action and fines of between 100,000 yuan and 500,000 yuan in serious cases, may limit the scope of business, shall be ordered to stop accepting new business or revoke license; directly responsible for the Agency in charge and other personnel, given a warning and a fine below 50,000 yuan and 100,000 Yuan:

    (A) prepare or provide a false report, report, document or information;

    (B) refuse or obstruct the supervision and inspection.

    85th of an insurance broker in any of the following circumstances, by the China insurance regulatory Commission ordered corrective action and give a warning and no illegal proceeds, fines of between 10,000 yuan, has illegally obtained, fined a maximum of 3 times the illegal income, but shall not exceed a maximum 30,000 yuan; for the Agency in charge and other personnel directly responsible for and give a warning, fines of between 10,000 Yuan:

    (A) pay regulatory fees not according to stipulations;

    (B) in accordance with stipulations placed at the residence or place of business licenses;

    (C) the alteration or fails without a permit in accordance with the provisions renewal of licence;

    (D) surrender their license not according to stipulations;

    (E) not the provisions of this notice;

    (F) managing business archives not according to stipulations;

    (VII) does not require the use of a separate special account for client funds;

    (H) the interim head of the actual term of Office exceeds the deadline stipulated.

    86th article violates insurance 166th to section 172, if the circumstances are serious, the CIRC may directly responsible to the head of personnel and other persons directly responsible to withdraw qualification or qualifications.

    87th in violation of provisions of laws and administrative regulations, the circumstances are serious, the CIRC may prohibit the persons concerned until a certain time for life to enter the insurance industry.

    88th insurance brokerage directors, officers or employees of the institution, left, was found in the original work of insurance regulatory violations should be investigated for responsibility according to law.

    89th Circ found insurance broker suspected of evading taxes, illegal fund-raising, pyramid schemes, money-laundering, and so on, need to be governed by other bodies, should be transferred to other authorities or.

    Violation of these provisions, constitute a crime, the CIRC should be reported to the judicial authorities or transferred.

    The seventh chapter by-laws

    90th insurance intermediaries in these rules refers to insurance agencies, insurance brokerage and insurance assessment institutions and their branches.

    91st by the China insurance regulatory Commission approved the establishment of foreign-owned insurance brokerage institutions apply the provisions of our participation in the relevant provisions of international treaties and the China insurance regulatory Commission, to apply its provisions.

    Partnership establishment and management in the light of the provisions of the insurance broker, otherwise provided by the China insurance regulatory Commission, to apply its provisions.

    92nd these provisions as required by the various table formats developed by the China insurance regulatory Commission.

    93rd article of the provisions in the relevant period divided by years, months, and other, are based on working days, excluding holidays.

    Referred to in this provision the "upper" and "lower" are included in this figure.

    94th these provisions come into force on October 1, 2009, the China insurance regulatory Commission promulgated on December 15, 2004, of the provisions on administration of insurance brokerage institutions (CIRC 2004 of 15th) repealed simultaneously. 95th insurance broker before the implementation of the provisions established by law firm retained, does not contain all the prescribed conditions, specific measures prescribed separately by the China insurance regulatory Commission.