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Administrative Measures On Credit Institutions

Original Language Title: 征信机构管理办法

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Administrative measures on credit institutions

    (November 15, 2013, people's Bank of China (2013) released 1th December 20, 2013) Chapter I General provisions

    First to strengthen the supervision of credit institutions, promote the healthy development of the credit industry, according to the People's Republic of China people's Bank of China law, the People's Republic of China law, the credit industry regulations and other laws and regulations, these measures are formulated.

    Second Credit Bureau in these measures refers to legally established, mainly engaged in the business of credit institutions. The third people's Bank of China shall perform the functions of supervision of credit institutions.

    Within the scope of authority of the people's Bank of China branch in rows, perform supervisory and management functions of the credit institution in the area.

    The fourth credit institutions shall comply with laws, administrative regulations and the provisions of the people's Bank of China, credit management and must not harm national interests, public interests, not to infringe the legitimate rights and interests.

    Chapter II establishment, modification and termination

    Article fifth individual credit institutions shall be approved by the people's Bank of China.

Sixth the establishment of personal credit institutions, should adhere to the regulations on the management of credit provided in article sixth, also subject to the following conditions:

(A) have a sound organizational structure;

(B) a sound business operations, information security management, compliance management and internal control system;

(C) the personal credit information system in line with the national information security grade I or II above standard.

    Credit Management Ordinance of the sixth main shareholder is mentioned in article contributions to total capital above 5% or shares accounted for more than 5% shares of the company's shareholders.

Seventh, applying for the establishment of individual credit institutions, the following materials shall be submitted to the people's Bank of China:

(A) the application form for individual credit institutions;

(B) the credit information business feasibility studies, including development planning, business strategy, etc;

(C) the articles of Association;

(D) the shareholder relationships and actual controller note;

(E) major shareholders no major violations last 3 years of statements and principal shareholder credit report;

(F) the proposed qualifications for directors, supervisors and senior managers certificate;

(G) Organization and personnel basic instructions;

(VIII) have established internal control system, including operations, safety management, compliance management, etc;

(IX) national evaluation and qualification information classified security protection of personal credit information system security assessment issued by the Agency, notes on the information security measures and related security systems;

(J) the proof of right of use or ownership of business premises;

(11) issued by the administrative departments for industry and commerce business name prior approval written notice copy.

    People's Bank of China through field surveys, interviews or any other means to verify the application.

Eighth after the people's Bank of China accepts applications for setting up personal credit institutions public applicants of the following:

(A) the proposed name of the credit institution, place of business, scope of business;

(B) the proposed capital of the credit institution;

(C) major credit Bureau to be established as shareholder and capital contribution or shares;

    (D) the credit institution to be appointed directors, supervisors and senior management staff list. Nineth credit institutions established in the people's Bank of China to receive individual applications within 60 days from the date of the application for review, according to credit industry fair competition and healthy development of the due diligence principle decisions to approve or not to approve.

    Approved by decision, issuing personal credit business license according to law; decides not to approve, shall make a written decision.

    Tenth approved the establishment of individual credit institutions, based on individual credit information business license to the company registration authority for registration to obtain business licenses; personal credit institutions shall from the date of company registration authority granted registration in the 20th, to submit to the people's Bank of China business license copy.

11th individual credit institutions be merged or separated, should apply to the people's Bank of China, application and justification, and submitted to the relevant supporting documents.

    People's Bank of China from the date of acceptance of the application in the 20th, to approve or not to approve the decision in writing.

12th personal credit institution intends to change capital, the main shareholders, an application shall be submitted to the people's Bank of China, indicating changes and reasons for changes, and submit the relevant proof.

    People's Bank of China from the date of acceptance of the application in the 20th, to approve or not to approve the decision in writing.

13th personal credit information agency plans to establish a branch office shall be subject to the following conditions:

(A) had fully demonstrated the feasibility of branches to be established;

    (B) in the last 3 years no major administrative punishment record.

14th personal credit institutions applying for establishing a branch, the following materials shall be submitted to the people's Bank of China:

(A) the application form for branch establishment of personal credit information institutions;

(B) individual credit institutions the previous year audited financial statements;

(C) the establishment of branches of the feasibility report, including 3-year business development branch to be established planning, market analysis and business policy;

(D) the establishment of branches of the internal control system and risk prevention measures;

(E) individual credit institutions the last 3 years was declared by major administrative penalties;

(F) of the proposed branch senior management's biographical data.

    People's Bank of China from the date of acceptance of the application in the 20th, to approve or not to approve the decision in writing.

15th individual credit institutions change organization name, place of business, the legal representative, shall apply to the people's Bank of China to change personal credit business license records.

    Personal credit institutions should be matters of personal credit information business license record changes, registered with the company registration authority's bid for change, and from the date of change of company registration authority granted in the 20th, to the rules of the record.

    16th personal credit business license should be in prominent positions of individual credit institutions place of publication.

    17th personal credit institution shall properly keep the personal credit information business license shall not alter, resell, rent, lend, transfer. 18th individual credit information business license is valid for 3 years.

Expired needs to renewal, shall, on the expiry of 60 days to apply to the people's Bank of China, exchange their personal credit business license. Expiry is no longer renewed, credit institutions shall personal credit business license expiry 60 days before reporting to the people's Bank of China, and in accordance with the provisions of the present article 20th and properly handle information databases, personal credit information business license cancellation procedures; personal credit information institutions in the 60 days before the expiration of personal credit information business license renewal application had been filed,

    PBC may personal credit business license expiry date of cancellation of his or her personal credit information business license, and in accordance with the regulations on the management of credit provided for in 12th process information database.

19th established credit institutions shall comply with the People's Republic of China company law under conditions established by the company, from the date of company registration authority granted registration in the 30th to the local rules of the capital (capital) City Center branch over branch offices filing and submit the following materials:

(A) credit institutions filing form;

(B) copy of business license;

(C) equity structure, including capital, shareholder and its stake or its capital contribution;

(D) Organization and personnel basic instructions;

(E) report on the basic business and business rules;

(Vi) basic conditions of business systems, including the construction of the enterprise credit information system reports and national information security classified protection testing qualification certificate of enterprise credit information system security assessment reports;

(VII) information security and risk prevention measures, including already established internal control system and security management system.

    Credit record is changed shall be from the date of change to record changes in the 30th for the record.

20th personal credit bureau disbanded or declared bankrupt according to law, intends to terminate the credit business, before 60-day report of the people's Bank of China should be terminated at the proposed exit plan, and in accordance with the regulations on the management of credit the 12th article database.

    Personal credit institutions to terminate the credit business, shall from the date of termination in the 20th, designated by the people's Bank of China announcement in the media, and individual credit information business license cancellation procedures will permit to pay back to the people's Bank of China; fails to pay back the people's Bank of China shall be collected according to law.

    21st enterprise credit bureau disbanded or declared bankrupt according to law, intends to terminate the credit business, before 60-day report of the people's Bank of China should be terminated at the proposed exit plan, and in accordance with the regulations on the management of credit the 12th article database.

    Chapter III incumbent senior management

    22nd personal credit bureau directors, supervisors and senior management officers shall be obtained before the term qualification approved by the people's Bank of China.

23rd personal credit bureau directors, supervisors and senior management personnel qualifications shall satisfy the following conditions:

(A) integrity, honesty, good character;

(B) have a college education;

(C) engage in work credit for 3 years or financial, legal, accounting, and economics for more than 5 years;

(D) have the management capabilities required to perform their duties;

    (E) the familiar credit business-related laws and regulations and professional knowledge.

24th under any of the following circumstances may not serve as a personal credit information agency directors, supervisors and senior managers:

(A) for corruption, bribery, embezzlement, misappropriation of property, or disrupting the order of the Socialist market economy, were sentenced to penalties or be deprived of political rights for crime, execution expires not more than 5 years;

(B) the record of serious violation of the last 3 years.

    Major violation records in these measures refers to crime except first item listed in the preceding paragraph records or serious administrative punishment record.

25th individual credit institutions apply to the people's Bank of China approved the directors, supervisors and senior management personnel qualifications, shall submit the following materials:

(A) the qualifications for directors, supervisors and senior managers application forms;

(B) of the proposed directors, supervisors and senior managers of biographical material;

(C) of the proposed directors, supervisors and senior managers of education certificate;

(D) of the proposed directors, supervisors and senior managers of the last 3 years has no record of serious violation of statement;

(E) of the proposed directors, supervisors and senior managers of personal credit reports. Personal credit institutions shall submit the materials prescribed in the preceding paragraph, personal credit institutions, as well as of the proposed directors, supervisors and senior management should be responsible for the authenticity and integrity of the material.

    People's Bank of China to verify the authenticity of the material as needed, and the application qualifications for directors, supervisors and senior managers to inspect or conversation.

    26th people's Bank of China in accordance with the individual credit institution directors, supervisors and senior managers review the qualifications, make a written decision on approved or not.

27th credit institution directors, supervisors and senior management personnel, credit institutions shall be served within 20th since the date of appointment to the local rules of the capital (capital) City Centre branch over branch records, and submit the following materials:

(A) the table directors, supervisors and senior management personnel;

(B) the directors, supervisors and senior managers of biographical material;

(C) the directors, supervisors and senior managers of education certificate;

(D) the directors, supervisors and senior managers of record authenticity statement.

    Credit institution directors, supervisors, senior management changes, shall from the date of filing to record changes in the 20th.

    Supervision and administration of the fourth chapter

28th credit institution shall, at the end of the first quarter of each year, report to the people's Bank of China credit business in the previous year.

Credit institutions should be at the end of the first quarter of each year, report to the record-credit business in the previous year.

    Reports should include the credit information collection, products development, credit information services, objection handling, and information systems development, information security, and so on.

29th personal credit institutions should be required to credit business in the people's Bank of China to submit statistical reports, financial reports, audit reports and other information.

Credit institutions shall be required to submit record-credit business statistics reports, financial reports, audit reports and other information.

    Credit institutions shall submit reports and is responsible for the authenticity, accuracy, and completeness of information.

30th credit institutions shall, in accordance with national standards for evaluation of information classified security protection, security of credit information system evaluation.

Credit bureaus credit information system security rating for second-level should be measured every two years; credit information systems security for the three level and above should be measured each year.

    Personal credit institutions shall have national evaluation and qualification information classified security protection within 20th date of test report issued by the Agency, evaluation reports submitted to the people's Bank of China, credit institutions the evaluation report should be submitted to the record.

31st Credit Bureau has any of the following circumstances, people's Bank of China and its branches as its key regulatory object can be:

(A) the serious violations in the previous year;

(B) indication appears possible information disclosure;

(C) the financial situation of exception occurred or serious losses;

(D) being a large number of complaints;

(E) in accordance with this approach the 28th, 29th, 30th article of sending related materials;

(F) rules of the need to focus on supervision of other cases.

Credit bureaus are listed as key regulatory subjects, people's Bank of China and its branches can be shortened at the discretion of credit bureau reports, credit business, credit information system security evaluation cycle, and take appropriate regulatory measures, supervise credit institutions reform.

    After rectification in the circumstances listed in the first paragraph removed, people's Bank of China and its branches may no longer recognize it as a key monitoring objects.

    32nd people's Bank of China and its branches in accordance with regulatory needs, interviewed Credit Bureau Directors, supervisors and senior managers, its credit business, risk control and internal management of the relevant major issues clarification.

    Chapter fifth penalty

    Article 33rd applicants who apply for the establishment of individual credit institutions to hide relevant information or provides false materials, people's Bank of China, in accordance with the People's Republic of China relevant provisions of the administrative licensing law for punishment.

    Article 34th personal credit information system of the credit institution does not meet the national security protection grade or secondary requirements, people's Bank of China may be ordered to rectify serious or refuses to clean up, people's Bank of China, in accordance with the regulations on the management of credit provisions of 38th, revoke his/her personal credit business license.

35th applying for individual credit institution directors, supervisors and senior management personnel qualifications of applicants to hide relevant information or provides false materials, approved by the people's Bank of China shall not accept or not their qualifications, and give a warning; approved, cancelled their qualifications.

    Prohibited qualifications of the applicant within 3 years to apply again.

Article 36th individual credit institution appointed without obtaining qualifications for directors, supervisors and senior management staff, warning by the people's Bank of China ordered corrective action and in serious cases, fines of between 10,000 yuan and 30,000 yuan.

    Credit institutions to appoint directors, supervisors and senior managers failed to record or change the record, and provided false information in the record, by the people's Bank of China Branch Office ordered corrective action and give warning in serious cases, fines of between 10,000 yuan and 30,000 yuan.

    37th credit reporting agency violates the measures 29th, 30th article, by the people's Bank of China and its branches shall be ordered to correct serious cases, fines of between 10,000 yuan and 30,000 yuan; a suspected crime, handed over to judicial organs for criminal responsibility according to law.

    The sixth chapter supplementary articles

    38th article of the approach by the people's Bank of China is responsible for the interpretation. 39th these measures come into force on December 20, 2013.