Head Of Insurance Company Financial Qualification Management Regulation

Original Language Title: 保险公司财务负责人任职资格管理规定

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Head of insurance company financial qualification management regulation

    (December 11, 2008 2008 China insurance regulatory Commission announced as of February 1, 2009, 4th) Chapter I General provisions

    First in order to promote the insurance companies to strengthen management, improve corporate governance, achieving sustained and healthy development of the insurance industry, according to the People's Republic of China insurance code, the People's Republic of China Corporation law and the People's Republic of China laws and administrative regulations on foreign insurance companies regulations, this provision is enacted.

    Financial principal in the insurance companies referred to in the provisions of article (hereinafter referred to as Chief Financial Officer), refers to the insurance company is responsible for accounting, financial management, enterprise value management activities of the Corporation's senior management staff.

    Third head of the insurance company shall establish a finance position.

    Insurance company appointed Chief Financial Officer, shall, before appointment to the China insurance regulatory Commission (hereinafter referred to as the China insurance regulatory Commission) for approval of qualifications of the Chief Financial Officer to be appointed; unauthorized, may not in any form of appointment.

    Fourth financial officers should be conscientious, abide by the laws, administrative regulations and the relevant provisions of the China insurance regulatory Commission, to comply with the company regulations and professional standards.

    The fifth head of the China insurance regulatory Commission in accordance with the financial service and duty of supervision and management.

    Chapter II administration of qualification

    Sixth section in charge of Finance shall have good faith diligent conduct and good professional ethics, competent to perform the duties of the required expertise, experience and management skills.

    Article seventh in charge of Finance shall meet the following conditions:

    (A) Bachelor degree or above;

    (B) engaged in financial work for more than 5 years, or economically for more than 8 years;

    (C) enterprises, institutions or organs in positions of leadership or management experience;

    (D) domestic and international accounting, finance, investment actuarial or legal related field such as professional qualifications, or accounting or auditing series senior titles;

    (E) be familiar with the laws, rules and regulations required to perform their duties, the accounting, actuarial, investment or risk management has a good foundation;

    (Vi) have a more in-depth understanding of insurance business law, has the strong professional judgment ability, organization and communication skills;

    (VII) be able to work with Chinese;

    (H) in the People's Republic of China territory of residence;

    (IX) other conditions stipulated by the Circ.

    With an accounting professional doctorate to be exempted from the first paragraph of this article (d) the conditions laid down, and relaxed in the finance or economy of the period.

    Engaged in financial work for more than 10 years and 5 years management positions in the financial institutions to be exempted from the first paragraph of this article (d) the conditions laid down.

    Eighth article of the insurance company directors and senior management staff of vocational qualification management regulations prohibiting senior management one of the, or stipulated by the CIRC is not suitable to serve as head of financial other circumstances, shall not hold insurance companies in charge of finance.

    Have received administrative punishment provide false financial accounting information, regardless of whether its application for approval of qualifications more than the insurance company directors and senior managers of vocational qualification management regulations or off-limits period set out in other provisions of the CIRC, shall not serve as Chief Financial Officer.

    Nineth insurance company appointed Chief Financial Officer, shall, before the appointment of the head of the China insurance regulatory Commission for approval of financial qualifications, submitted the following written materials in triplicate and submitted the relevant electronic documents:

    (A) resolutions of the Board of Directors to be appointed in charge of finance;

    (B) requests for approval of qualifications for Chief Financial Officer to be appointed;

    (C) the insurance application form for qualifications of Directors and senior management personnel;

    (D) the proposed Chief Financial Officer ID card, education certificate, professional certificate, certificate of title, copies of the relevant documents, shall also provide passport copy of the Passport;

    (E) in the People's Republic of China there is evidence of residence in the territory;

    (Vi) separation of auditing, auditing reports submitted, no auditing, auditing by the original employer does not note, cannot be submitted to the above information, written statement made by the financial officer to be appointed;

    (VII) other materials submitted by the Circ.

    Approved by the China insurance regulatory Commission to open insurance companies, opening should be made within 1 month after the approval documents, in accordance with the provisions of the preceding paragraph apply to the China insurance regulatory Commission approved the qualification of Chief Financial Officer to be appointed. Tenth Circ shall accept the qualification approval within 20 working days from the date of the application, make a decision of approval or disapproval.

    Did not take a decision within 20 working days, by the Chairman of the China insurance regulatory Commission approved, can be extended by 10 working days, and shall inform the applicant of the reasons for such further period.

    Decided to approve, issuance of the qualification approval documents; the decision not to approve, it shall make a written decision with reasons.

    11th China insurance regulatory Commission to review the qualification approval application review can include the following:

    (A) reviewed Office application materials;

    (B) to be appointed as Chief Financial Officer for Office visits talks;

    (C) other methods prescribed by the Circ.

    Its 12th talking office visits may include the following:

    (A) understand the financial officer to be appointed to the insurance business law awareness, awareness of the external environment within the enterprise to be served;

    (B) to its important duty-related laws, administrative regulations and rules of the master;

    (C) acting as prompt financial officers should focus on issues of concern;

    (D) the CIRC deems the visit or prompt other content.

    Talk to serve investigation shall make a written record, study and draw any financial person in charge is signed by both parties.

    13th CIRC to the Chief Financial Officer to be appointed the original working and consult the relevant departments, about to be appointed Chief Financial Officer of the situation.

    14th in charge of finance, one of the following circumstances, the qualifications shall expire automatically and intends to stay on as Chief Financial Officer, shall return the approved qualifications:

    (A) by resignation, dismissal or removal from Office and other reasons;

    (B) administrative penalties were ordered to be removed;

    (C) it appears the People's Republic of China company law 147th article.

    Chapter financial officer duties

    The 15th head of the insurance company shall be specified in the articles of the financial duties and rights.

    16th the appointment, dismissal and remuneration of Chief Financial Officer, Board of Directors on the General Manager, decided by the insurance company.

    Insurance company Board of Directors Chief Financial Officer's duty should be continuous evaluation and periodic assessment, the timely replacement of incompetent in charge of finance.

    17th in charge of Finance shall perform the following duties:

    (A) is responsible for the accounting and financial reporting, and establish and maintain internal controls concerning financial reporting system, and is responsible for the authenticity of accounting information;

    (B) the responsibility for financial management, including budget management, cost control, cash flow, income distribution, performance assessment, etc;

    (C) responsible for or involved in risk management and solvency management;

    (D) participation of major management activities such as strategic planning;

    (E) in accordance with laws, administrative regulations and the relevant regulatory requirements, audit, signed disclosure of relevant data and reports;

    (F) stipulated by the CIRC, and shall perform other duties according to law.

    18th Chief Financial Officer reports to the Board of Directors and General Manager.

    Insurance companies should provide the Board heard at least once every six months in charge of Finance on insurance company financial position, operating results and reporting should pay attention to issues and other matters.

    Financial principal in the 19th in signing financial reporting, solvency prior to the reports and other documents, should be accountable to the insurance company actuarial, investment and risk management related to business written advice from the senior management.

    20th an insurance company, one of the following circumstances, in charge of Finance shall, in accordance with its responsibilities, to the Board of Directors in a timely manner, the General Manager or senior managers of corrective recommendations; Board of Directors, the General Manager did not take measures to correct, in charge of Finance shall report to the China insurance regulatory Commission, and refused to sign the relevant documents:

    (A) financial accounting report of the business activity or serious violations of insurance laws, administrative regulations or the regulations;

    (B) serious damage to the insured, the legitimate rights and interests of the insured;

    (C) violations committed by other senior management personnel of insurance companies insurance companies the legal rights and interests, and give insurance companies the potential for serious harm.

    21st chief financial officer entitled to carry out his mandate, necessary data, documents, information or other related information, the insurance company concerned and shall not engage in unlawful interference, not withholding information or giving false information.

    Insurers should provide financial officers have the right to attend with their duties related to the meetings of the Board.

    Supervision and administration of the fourth chapter

    22nd insurance company appointed Chief Financial Officer, shall, in accordance with the regulations approved by the China insurance regulatory Commission requirements; special circumstances you need to specify a temporary Chief Financial Officer, temporary duty time shall not exceed 3 months. Appointment of interim Chief Financial Officer of insurance companies, should be made in posts or removed from Office within 10 working days from the date of the decision to the CIRC report.

    Interim Chief Financial Officer, one of the following circumstances, the China insurance regulatory Commission has the right to require the insurance company to replace:

    (A) these provisions prohibited from acting as Chief Financial Officer;

    (B) the stipulated by the CIRC unfit to exercise the duties of Chief Financial Officer.

    23rd an insurance company, one of the following circumstances, the CIRC may directly responsible to the Director, the Chief Financial Officer or other senior management staff to monitor the talks, and a form to order the rectification:

    (A) there is no Treasurer duties specified in the company's articles of Association and the rights of the

    (B) there were significant shortcomings in the corporate governance structure and internal control system, led to perform their duties in charge of finance is difficult to obtain the necessary data, documents, information and other related information;

    (C) there is evidence that financial officers breach of duties described in this provision, or a violation of the People's Republic of China Act of loyalty and diligence, serious harm may be caused to insurance companies;

    (D) insurance companies in charge of finance mandate activities relating to management of major risks, and may cause serious harm to insurance companies;

    (E) China insurance regulatory Commission that should prompt other risky situations.

    Financial principal in the 24th due to resignation, dismissal or was removed from Office and other reasons, an insurer shall approve the resignation or removal from Office, removal from Office, decided at the same time will determine the file copied to the CIRC, and submit to the Chief Financial Officer the reason of dismissal or removal from Office.

    25th Chief Financial Officer should be continuing legal and professional knowledge, participate in the Organization of the CIRC or approved training.

    26th Circ in accordance to the provisions of insurance company financial officer supervise the compliance of the duty, and to inform the Board of Directors and General Manager to check the results.

    Financial principal in the 27th in violation of the People's Republic of China and the provisions of the Insurance Act, shall be punished in accordance with law by the Circ.

    The fifth chapter supplementary articles

    28th article of insurance companies in charge of Finance of vocational qualification management, this provision does not require the applicable to the qualifications of Directors and senior managers of insurance companies regulations, except as otherwise stipulated by the Circ.

    29th insurance asset management company with reference to these provisions.

    30th article of the CIRC is responsible for interpretation. The 31st article of the regulations come into force on February 1, 2009.

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