Administrative measures on sales of commercial bank's financial products
(August 28, 2011 China's Banking Regulatory Commission [2011] the 5th release come into force on January 1, 2012) Chapter I General provisions
First for regulated financial product sales activities, promote the healthy development of the financial business of commercial banks, according to the People's Republic of China banking supervision law and the People's Republic of China commercial bank law and other relevant laws, administrative regulations, and these measures are formulated.
Commercial banks ' financial products mentioned in these measures in article (hereinafter referred to as products) sales refers to the commercial bank's development and design of financial products to individual customers and institutional clients (hereinafter customer) promotion, sales, processing the subscription and redemption of such actions.
Article commercial banks ' financial products sales activities shall abide by the laws, administrative regulations and other related regulations and must not harm national interests, public interests and the customer the legitimate rights and interests.
Fourth China Banking Regulatory Commission and its agencies, in accordance with relevant laws, administrative regulations and these rules and other regulations, supervision and management of financial product sales activities.
Chapter II fundamental principles
Fifth commercial bank sold financial products should follow the principle of honesty and trustworthiness, diligence, disclosure.
Sixth commercial bank sold financial products should follow the principles of fairness, openness, justice, and fully disclose the risks, protect customer interests, may not be sold to mislead the customer.
Article seventh commercial banks selling financial products, compliance review should, precisely defined sales activities include legal relationships, prevent compliance risks.
Article eighth commercial banks selling financial products, shall cost calculation, risk control and information disclosure.
Nineth commercial banks selling financial products, risk matching principle should be followed and not misleading customers buy financial products in line with its risk-bearing capacity is not.
Match risk refers to the principle that commercial banks can only sell to customers risk rating is equal to or lower than its risk bearing capacity rating of financial products.
Article tenth commercial banks selling financial products, customers risk disclosure and investor education should be strengthened.
Chapter III administration of promotional sales text
11th publicity sales text in these measures fall into two categories.
First, promotional material, for promotion of commercial banks financing products published or distributed to customers, so that customers can obtain information in written, electronic or other medium, including:
(A) leaflets, pamphlets, letters and other customer-facing collateral;
(B) telephone, fax, SMS, email;
(C) newspapers, posters, electronic displays, movies, Internet, audio, and other contact information;
(Iv) other relevant information.
Second, sales documents, including: financial product sales agreement, financial management manual, risk disclosure letter, the customer benefits notice; sales, as customers signed documents, both commercial banks and customers should be retained.
12th commercial banks should strengthen publicity on financial products sales text production and distribution management, promotional sales text should be centrally managed by the commercial bank and authorized, a branch office without headquarters authorized sales are not allowed to produce and distribute promotional text.
13th financial product sales text should comprehensively and objectively reflect the important characteristics of financial product and product-related facts, language shall be true, accurate, and clear, and shall not be any of the following circumstances:
(A) any false record, misleading statements or material omissions;
(B) illegal promise gains or losses;
(C) the exaggerated or biased propaganda financial products, misuse of security, guarantee, promise, insurance, safety, secure, high gain, risk-free and does not match the risk-return characteristics of the product;
(D) the recommended text publishing units or individuals;
(E) does not provide objective evidence of the case, use the "high performance", "top", "top" and "best value", "first", "largest", "best", "most", "only" exaggerated, such as past performance;
(Vi) other risks of customers can be easily overlooked.
14th financial product sales text only published the design of commercial banks in the financial products or risk rating and structure of similar products in the past average performance and the performance of the best and the worst, and shall comply with the following requirements:
(A) statistical data, charts and reference information shall be true, accurate and complete, and identifying the sources, no references, unverified data;
(B) is true, accurate and fair presentation of financial management level of product performance and commercial banks;
(C) promotional sales should be made clear in the text suggests that past performance does not represent its future performance, does not constitute a new investment product performance guarantee.
If product sales using simulated data in text, to specify the analog data.
15th financial product sales referred to in the text of third-party professional evaluation results, shall identify the third-party professional evaluation institution name and date published or published evaluations of channels.
16th financial product sales in text expression yield or income range, should be provided in the sales document scientific, reasonable way of calculating basis and measurement, to bold text to remind customers, "calculation proceeds not equal to actual proceeds, investments must be cautious."
If they can not provide a scientific and reasonable way of calculating basis and calculation, financial product sales should not appear in the text product yield or income range and other similar expressions.
Presentation to the customer profit rate basis and measurement should be concise, clear, small probability events shall not be used to exaggerate product yield or income range and mislead customers.
17th financial product promotional material should be in a conspicuous location prompt customer, "managing risk, investment in the non-deposit products to be cautious."
18th financial product sales pages of the file should contain a risk disclosure, risk disclosure statement shall use plain language and contain at least the following:
(A) in a conspicuous location prompt customer, "managing risk, investment in the non-deposit products to be cautious";
(B) prompt them, "as changes in factors that affect your ability to take risks, please complete the risk-bearing capacity assessment";
(C) prompt customer attention to the investment risk, read financial product sales documents, understand the financial products;
(D) the types of financial products, terms, risk ratings, for purchases of customers, and examples illustrate the worst investment of investment results;
(V) guaranteed income financial products risk disclosure shall contain at least the following statements: "this product there is investment risk, can only guarantee contract explicitly promised benefits, you should fully understand the investment risk, prudent investment";
(Vi) guaranteed floating income financial products risk disclosure shall contain at least the following statements: "this product there is investment risk, guaranteed fund principal benefit is not guaranteed, you should fully understand the investment risk, prudent investment";
(VII) non-guaranteed floating income financial products risk disclosure shall contain at least the following: this product has no guarantee of principal and income and financial products risk rating suggests that customers may be the extent of losses suffered as a result of market changes, and the need to fully understand the investment risk, prudent investing and so on;
(H) the customer risk rating completed by the customer;
(I) the risk disclosure reproduced the book risks should also be designed to customer confirmation statement, including confirmation statement and signature bar; confirmation statement should set out full risk confirmation statement: "I have read the risk disclosure, willing to take risks" and to reserve enough space for customers to complete transcribing this statement and signature confirmation.
19th finance product sales pages of the file that contains the customer rights, customer interest note shall include at least the following:
(A) processes of the clients for financial products;
(B) the client risk tolerance assessment process, rating a particular meaning, as well as for purchases of financial products and other related content;
(C) disclosure to customers of commercial banks, channels and frequency;
(Iv) modalities and procedures for customer complaints to the Bank;
(E) commercial bank contact information and other needs to explain to the customer content.
20th financial product sales documents shall specify the investment scope, investment asset classes and investment ratio of each investment asset classes, and to ensure that financial products acquired during conventional scale rational floating in the sales documents.
Significant changes in the market leads to investment ratio for the time being out of range and may have a significant impact on customers expected return, shall promptly disclose to the customer information.
Commercial banks adjusted according to market scope of investment, the proportion of investments or investments, adjustment should be in accordance with the relevant provisions of the information disclosure before the customer does not accept, should be agreed in advance by the sales document allows customers to redeem financial products. 21st financial product sales documents shall include the charge sales fees, hosting fees, investment management fees and other related charges, pay conditions, fees and charges.
Sales document does not specify the fees shall not be charged to the customer.
According to relevant laws and national policies of commercial banks, need to have agreed fees, conditions, criteria and modalities for adjustments, the adjustments should be in accordance with the relevant provisions of the information disclosure before the customer does not accept, should be agreed in advance by the sales document allows customers to redeem financial products. 22nd commercial banks shall be agreed upon in the sales documents timely and accurate disclosure of information products at the end or termination of the information disclosed should be included but not limited to, actual investment asset class, investment products, investment ratios, sales fees, hosting fees, investment management fees, and customer benefits.
Financial products did not meet the expected return, should disclosed the relevant information in detail.
23rd finance products names should properly reflect the product properties, shall not be used with the seductive, misleading and commitment titles as well as controversy over fuzzy language.
Investment product name has to be name of the investment asset, intends to invest the assets required to meet the scale of the financial products, 50% (inclusive) above for linking structured finance products, names containing the name of the underlying assets, need to be clearly linked to standards in the name of Fund's assets or clear principal investment linked to the expected returns of the underlying assets.
The fourth chapter financial products risk rating
24th commercial banks should use scientific, rational approach to the proposed sale of banking products independent risk rating, risk control measures, grading for examination and approval.
Financial products risk ratings should be based on risk levels reflected, including at least five levels from low to high, and can be further divided according to actual situation.
25th should be according to the risk principle of financial products in commercial banks risk rating and the corresponding relationship between the clients risk tolerance assessment; it should be made clear in a financial product sales documents prompt customer scope of products for sale, and sales restrictions in the marketing system.
Article 26th to risk rating shall be based on the financial products including, but not limited to the following factors:
(A) the scope of financial products investment, the proportion of investment assets and investments;
(B) the duration of financial products, costs, revenue estimates;
(C) the Bank's development and design of the past performance of similar financial products;
(D) financial products existing in the operation of various types of risk.
The fifth chapter clients risk tolerance assessment
27th commercial banks should evaluate clients risk tolerance, determine risk tolerance rating, includes at least five levels from low to high, and can be further divided according to actual situation. 28th before commercial banks should customers buy financial products for the first time in the Bank's risk tolerance assessment network.
Risk tolerance assessment basis shall at least include the customer's age, financial situation, investment experience, investment objectives, earnings forecasts, risk preference, liquidity requirements, risk perception, and risk tolerance.
Commercial banks for more than 65 years old (inclusive) when clients risk tolerance assessment, should take fully into account the customer's age, investment experience, and other factors.
Customer risk assessment in commercial banks shall inform the customer the risk tolerance assessment result, retained by the customer signature confirmation.
29th commercial banks should periodically or regularly use face to face or online bank customers risk tolerance assessments.
For more than a year without risk tolerance assessment or may affect their risk tolerance of clients, again when purchasing financial products, Internet banking shall be commercial outlets or completion of the risk assessment, the results should be confirmed by the customer's signature is not evaluated, commercial banks are not allowed to sell financial products again.
30th a commercial bank should formulate their own unified customer tolerance for risk assessment.
Commercial banks should be made clear in a customer's risk tolerance assessment tips, such as clients that may affect their own risk tolerance, again when buying financial products should be offered to commercial banks on their tolerance for risk assessment.
31st commercial banks to private banking clients and high net worth clients with financial products sales and service should be carried out in accordance with these regulations the customer risk tolerance assessments.
Private banking clients refers to financial net worth 6 million Yuan RMB and more commercial clients; commercial banks in providing services, provide relevant certificates and signed by the customer.
High net worth customers are commercial bank, one of the following conditions:
(A) natural persons of the retail financial products not less than 1 million Yuan;
(B) subscription of financial products, personal or family financial assets totalling more than 1 million Yuan, and can provide relevant certificates of natural persons;
(C) personal income in each of the past three years more than RMB 200,000 or total family income exceeds 300,000 yuan annually in the last three years, and can provide proof of a natural person.
Article 32nd branch financial products sales department or authorized business executives should periodically clients risk tolerance assessment of completed audit book.
33rd commercial banks should establish information management system for customer risk assessment, measurement, recording and storage clients risk tolerance assessment and results.
The sixth chapter financial product sales management
34th commercial bank may not sell no market and no risk management plan, risk-free rate, cannot be measured in financial products, may not sell serious asymmetric risk-return of complex financial derivatives financial products.
35th shall not be an unconditional commitment to customers higher interest rates on deposits in commercial banks the guarantee rate of return; higher deposit interest rate guarantee profits and should be a conditional guarantee profits to customers.
Commercial Bank's commitment to customers the additional conditions can be guaranteed financial products the term adjustment, currency conversion and other rights, or it can be on the final payment and the choice of tools, commitment to guarantee profits arising from the conditions of investment risks should be borne by the customer, and shall inform the customer in the sales document.
Commercial banks must not promise or disguised promise any benefit except the guaranteed return.
Article 36th commercial banks deposit may not be as financial product sales alone may not be paired with mandatory deposits sale of financial products.
Commercial bank financial products must not be used as promotional deposits sales, must not violate the national interest rate management policy of high interest rates get fed.
37th commercial banks engaging in financial products sales activities shall not be any of the following circumstances:
(A) by way of sale or purchase of financial products regulation regulation indicators for regulatory arbitrage;
(B) financial products bundled with other products;
(Iii) draw, kickbacks or gifts in kind such as selling financial products;
(D) tunneling through financial products;
(V) misappropriation of customer subscription, the subscription and redemption of funds;
(Vi) sales staff sign documents on behalf of customers;
(VII) other cases prohibited by provisions of the CBRC, China.
38th article should be based on financial products in commercial banks risk rating risk rating, potential customer base, in order to set the appropriate single financial product sales Threshold Amount.
Risk ratings for primary and secondary products, single customer sales starting amount shall not be less than RMB 50,000; risk financial products rated as three-level and four-level, single customer sales starting amount shall not be less than RMB 100,000 risk rating to five levels of wealth management products, single customer sales starting amount shall not be less than RMB 200,000 yuan.
39th commercial banks through television and radio channels to specific banking product information through telephone, fax, SMS, mail, such as when undertaking financial products information, such as customers made it clear that did not agree with, commercial banks are not allowed in this way financial products to customers.
40th commercial bank through the Bank's online banking when selling financial products shall comply with the provisions in article 28th sales processes should be bold risk, risk identification shall not be less than dot standards, sales process should keep complete records.
41st commercial bank through the Bank's telephone banking when selling financial products shall comply with the provisions in article 28th; should be a financial qualification of the salesperson bank personnel, sales process unified standard vocabulary should be used to keep customer information, compliance with appropriate confidentiality obligations.
Commercial banks through the Bank's telephone banking product sales to client shall obtain customer's consent, clearly inform customers sell financial products, shall not mislead customers; sales confirmation shall not be less than the risk of network standards, the sales process should be recorded and kept.
42nd commercial banks sell risk ratings for four (or more) financial products, unless agreed in writing with the customer, they should be in commercial outlets.
Article 43rd commercial banks to private banking customers sales dedicated to the design and development of financial products or portfolio, the Parties shall conclude special financial services agreement, sales activities can be carried out according to the agreement, but should ensure that the sales process in conformity with the relevant laws and regulations.
44th selling financial products to institutional clients of commercial banks do not apply these measures about customer risk assessment, risk acknowledgement statement reproduces the relevant provisions, but should ensure that the sales process in line with relevant laws and regulations and other provisions in these procedures.
To institutional customers sales dedicated to the design and development of commercial bank's financial products, the Parties shall conclude special financial services agreement, sales activities can be performed according to the agreement, but should ensure that the sales process in conformity with the relevant laws and regulations.
Article 45th for a single investment amount larger clients, commercial banks should include sales file before the completion of the sale, the subscription information at least reported to the head of the commercial bank branch Sales Department audit or its authorized business manager audit amount standards and audit rights, according to the characteristics and risk management of the bank financial products by commercial banks required.
Has completed sales of wealth management products to the offering document, should be at least reported to the branches of commercial banks financial products sales department or its authorized business executives regularly audited.
Article 46th riskier customers or a single large amount of wealth management products, unless agreed in writing by both parties, otherwise the commercial banks should transfer to phone as final confirmation with the customer if customers agree to buy the products, commercial banks must comply with the customers ' wishes, lifted sales documents that have been signed.
High risk and large amount of standard characteristics according to financial products by commercial banks and the Bank's risk management requirements.
47th commercial banks not to other commercial banks or other financial institutions, development and design of products labeled the Bank identifies as its own financial product sales.
Commercial agents to sell other financial products in commercial banks shall comply with these regulations, adequate risk review and undertake the corresponding responsibilities.
48th abnormal sales of commercial banks should set up monitoring, logging, reporting, and handling system, focusing on the mis-selling of financial products sales and misleading sales practices, should include at least the following anomalies:
(A) the customer frequently opening, withdrawal of financial accounts;
(B) does not match the customer's risk tolerance and risk of financial products;
(C) commercial banks within the specified time to huafu funds;
(D) the other should pay close attention to anomalies.
The seventh chapter sales force management
49th salespeople in these measures refers to the commercial bank's customer-facing products promotion, sales, handling personnel related activities such as purchase and redemption.
50th sale in addition should have financial product sales as well as the relevant laws and regulations, financing, financial expertise and skills, should also meet the following requirements:
(A) to finance-related laws, regulations and regulatory requirements such as full knowledge and understanding;
(B) compliance with regulatory and codes of professional ethics or for developing wealth-management business of commercial banks;
(C) acquire the promotional sales of wealth management products or products involved in consulting and advisory opinions to client characteristics, knowledge of relevant financial products markets and understand;
(D) have relevant academic qualifications and work experience;
(E) with the regulatory requirements of the industry qualifications.
51st salespeople engaging in financial products sales activities should be guided by the following principles: (A) the diligence due diligence principles.
Sales people should practise a highly responsible attitude to customers, fulfill our responsibilities. (B) the principle of honesty and trustworthiness.
Sales should be faithful to the customers, in an honest and fair manner, the legal way of practising, inform the customer that may affect its important interests and financial products risk rating. (C) the principle of fair treatment of the client.
In financial product sales activities in case of disagreement or conflict, the salesperson should be fair treatment of the client, shall be without prejudice to the customer the legitimate rights and interests. (D) the principle of professional competence.
Sales staff should be qualified in financial product sales and skills, competent financial product sales.
52nd salespeople to customers when selling financial products, you should introduce yourself, respect customers ' wishes, not in the case of customers are unwilling or not promotional sales.
53rd sales staff for customers financial products before the subscription procedure shall comply with these rules, with particular attention to the following:
(A) identifying customer identification;
(B) introducing financial products to customer sales business processes, standards and methods;
(C) to identify their clients risk tolerance assessment, investment horizon and liquidity requirements;
(Iv) reminds customers to read sales document, particularly risk disclosure letter and interest;
(E) confirm the confirmation statement reproduces the risk for customers.
54th salespeople engaging in financial products sales activities shall not be any of the following circumstances:
(A) in the sales activity for himself or any other person seeking illegitimate interests, commitment to tunneling, by giving other people's property or interests, or accept the granting of commercial bribery in the form of property or interests;
(B) defamation of other financial products or sales staff;
(C) the dissemination of false information, disrupt market order;
(D) illegal accept customers ' discretionary, private clients wealth management product subscription, subscription and redemption transaction;
(E) illegal profit commitment to customer, orally or in writing with the customer agreed to share revenue or loss allocation;
(F) misappropriation of client funds or wealth management products;
(G) alter any customer orders;
(VIII) other acts that may be detrimental to the customer the legitimate rights and interests and reputation.
55th commercial banks should not less than 20 hours a year to sales personnel training to ensure their sales personnel in financial services regulatory policy, rules and regulations, familiar with the financial product sales text, product risk expertise.
Training records should be recorded in detail the training required, manner, time and assessment results, and does not meet the training requirements of personnel should be on hold in financial product sales.
56th commercial banks should establish and improve sales staff qualification, continued training, tracking and evaluation of management systems, not salespeople to sales as a single appraisal and awards index methods, customer complaints, misleading and should be sold into the evaluation index system and other irregularities.
Commercial banks should the sales staff in the sales activities in emerging forms of violations accountable, their integration into the Bank's human resources evaluation system, keep track of assessment.
Frequent customer complaints and verified sales, should be reassigned from sales positions in serious cases shall bear the corresponding legal responsibility in accordance with this approach.
The eighth chapter sales internal control system
57th Commercial Bank Board of Directors and senior management should be fully aware of the financial product sales potential compliance risk, operational risk, legal risk, reputation risk, pay close attention to financial product sales the risk control measures in the process of implementation to ensure that financial products sales management system and risk control measures adequate know your customer principles and interests of the customer.
Article 58th commercial banks should clearly establish financial product sales management Department, according to relevant laws and regulations and sales operations of the nature and characteristics of scientific and transparent financial products sales management system and decision-making procedures, efficient, rigorous business systems, a sound and effective internal control system, as well as emergency treatment mechanism.
59th commercial banks should include financial products risk rating, customers risk tolerance assessments, sales activities in risk assessment, including a scientific and rigorous risk management systems and internal control systems, internal and external risk identification, assessment and management, specification for sale to ensure that sells the right products to the right customers. 60th commercial banks should establish a sound financial products sales authorization control system according to the Bank, strengthen the management of branch offices, effective control of the branch sales risks.
Authorization shall include at least:
(A) the specified branches of the Service Authority;
(B) develop common standardized sales and service procedures, improving branch sales and service quality;
(C) harmonization of information technology systems and platforms to ensure effective management of customer information and the safety of customer funds;
(D) establishing clear lines of reporting, maintaining information channels;
(E) strengthen the supervision and management of branches, regular checking, verification, risk assessment, such as effective risk control branch.
61st commercial banks should establish a financial product sales account management system, ensure that all types of accounts opened and used according to laws and regulations, ensure the safety of financial products sales of its funds and the orderly management of the account.
62nd basic procedures of a commercial bank should develop financial products sales operations, information on account opening, account, change accounts, such as type of business, subscription or purchase, redemption, conversion classes such as business rules.
63rd commercial banks should establish a comprehensive, transparent, efficient and effective handling of customer complaints system, which should include:
(A) have special departments to receive and handle complaints;
(B) establishment of customer complaint handling mechanism, shall at least include the complaint handling process, investigative procedures, solution, customer feedback, internal feedback process;
(C) to provide reasonable channels, to ensure that customers understand the ways, methods and procedures for complaints, Bank standard, fair and equitable handling of complaints;
(D) publicize the way to handle customer complaints, including telephone, email, letter and field complaints, and publicize the complaints-handling rules;
(E) the accurate records of complaints all complaints records should be retained and filed, complaints should be recorded;
(F) to assess the risk of customer complaints, to take appropriate measures, proper handling of customer complaints in a timely manner;
(G) periodically based on customer complaints to summarize issues related to forming analysis reports, detect business risks, improve the internal control system.
64th commercial banks shall establish management systems and a system of confidentiality of customer information and prevent misuse of customer information.
65th commercial banks should establish a save system, keep proper financial products sales of all documents, records, sound recordings and other related information.
66th commercial banks should have commensurate with the regulatory risk financial product sales technical support systems and back-office support capabilities so as to establish a full sales information management system, setting up the necessary information management, sales management system for safe operation.
67th commercial banks should establish and improve the system of quality control of financial product sales, put in place internal oversight and independent verification measures, equipped with the necessary staff and manages to the integrity of financial product sales qualifications, services, compliance and internal investigations and monitoring quality of service. Internal investigations shall be made in a variety of ways.
Investigation the quality of financial product sales, internal investigation supervision should also be personally or delegate the appropriate personnel, to investigate customer identification.
Supervisors shall review the internal investigation service records, contracts and other materials based on the key check for improper sales.
Nineth supervision and management
68th the CBRC and its local institutions under prudential supervision requirements, on commercial bank's financial products sales activities for off-site supervision and on-site inspection.
69th commercial bank sold financial products report, report period, no financial product information to report sales activity.
Commercial bank or authorized branch development and design of financial products, commercial bank should be responsible for reporting, reporting materials shall be approved by senior managers in charge of financial services in commercial banks for approval.
Commercial Bank should be sold as 10th, the following materials to the China Banking Regulatory Commission is responsible for the legal supervision of the sector or territorial Banking Board report (a branch of a foreign bank reference):
(A) the feasibility report of the financial products, mainly including: basic characteristics of products, target customer groups, the proposed sale and scale, the proposed sale arrangements, financial investment, portfolio, financial costs and benefits of the measure, expected to yield financial products ' revenue calculation mode and calculation basis, the product risk valuation and control measures;
(B) internal audit files;
(C) financial products investment managers, custodians, investment advisers and other stakeholders due diligence documents;
(D) financial products investment managers, custodians, investment advisers and other stakeholders to sign legal documents;
(V) financial products sales documents, including financial products sales agreement, financial product specifications, risks revealing book, customer benefits and so on;
(Vi) financial product promotional material, including bank branches, Bank official websites and banks commissioned a third party Web site to provide customers with financial products promotional materials and product ads through a variety of media;
(G) report of material contact person contact details; (H) the requirements of the local Office of the China Banking Regulatory Commission and other materials.
Commercial banks to institutional accounts and private banking clients selling financial products specifically designed for their development not to apply the provisions of this article.
70th branches of commercial banks should be available for sale at the 5th days of financial products within the following materials to the local agency of the China Banking Regulatory Commission report:
(A) the head office finance products available for sale at the power of Attorney;
(B) financial products sales documents, including the agreement for financial products, financial products specifications, risks revealing book, customer benefits and so on;
(C) financial product promotional material, including bank branches, Bank official website and the Bank commissioned a third party Web site to provide customers with product information material, as well as product ads through a variety of media such as;
(D) report of material contact person contact details; (E) the requirements of the local Office of the China Banking Regulatory Commission and other materials.
Commercial banks to institutional accounts and private banking clients selling financial products specifically designed for their development not to apply the provisions of this article. 71st commercial banks should ensure the authenticity and integrity of the material.
Reports are incomplete or do not meet the formal requirements, it shall, according to the China Banking Regulatory Commission or its agency require supplementary submissions or submit again after adjustment.
72nd financial business of commercial banks has one of the following circumstances, it shall promptly report to the CBRC, China or its Agency:
(A) the occurrence of mass incidents, complaints and other major events;
(B) misappropriation of client funds or assets;
(C) investment counterparties or other credit related party of a major credit event, may result in significant losses of financial products;
(D) significant losses in financial products;
(E) other significant violations that occur in the sale.
73rd commercial banks should, according to the China Banking Regulatory Commission on financial products sales monthly, quarterly and annual statistical analysis, submitted to the CBRC and its local agencies.
Commercial banks should in drawing up this year's financing business report at the end of each fiscal year, and shall include at least the sales, investment, income distribution, customer complaints, and so on, before the end of February next year submitted to the CBRC and its local agencies.
The tenth chapter legal liability
74th commercial bank violates these measures provided for financial product sales, agency of the China Banking Regulatory Commission or its rectification, serious or it fails, the China Banking Regulatory Commission or its agency may distinguish between different situations, in accordance with the People's Republic of China banking regulatory laws 37th article of regulatory measures.
75th, commercial banks ' financial products sales with any of the following circumstances, by the local Office of the China Banking Regulatory Commission or its rectification, except in accordance with the approaches taken 74th article related regulatory measures, may be fined a maximum of 200,000 to 500,000 yuan; a suspected crime, transferred to the judicial organs according to law:
(A) the violation caused sales of wealth management products to customer or Bank in major economic loss;
(B) the improper disclosure or use of customers ' personal data and transactions resulting in serious consequences;
(C) misappropriation of clients ' assets;
(D) the use of illegal and criminal activities such as money-laundering, tax evasion, financial services;
(E) other serious violations of the prudential rules.
76th commercial bank in violation of laws and administrative regulations, as well as relevant provisions of the banking regulatory, China Banking Regulatory Commission or its agency in accordance with article 74th and 75th as provided, but can also distinguish between different situations, in accordance with the People's Republic of China Banking Regulatory Act article 48th taking regulatory measures.
The 11th chapter by-laws
77th in this way, the "day" means working days.
78th rural cooperative banks, urban credit cooperatives, rural credit cooperatives and other financial product sales operations of banking institutions, in accordance with the measures implemented.
79th explain these measures by the China Banking Regulatory Commission. 80th these measures come into force on January 1, 2012.
