In 2022, the special rectification of equity and related transactions of banking and insurance institutions will be launched to strictly prevent the risks of insider control and manipulation by major shareholders.

ShanghaisecuritiesThe reporter learned today that the China Banking and Insurance Regulatory Commission has recently issued abankInsuranceThe agency issued the “On Printing and Distributing 2022bankInsuranceNotice on the main points of the special rectification of institutional equity and related transactions. In accordance with the key work deployment of the CBIRC in 2022, in order to continue to strengthen the supervision of equity and related-party transactions and promote the rectification of key issues, the CBIRC has deployed the special rectification of equity and related-party transactions in 2022.

The notice stated that the China Banking and Insurance Regulatory Commission will continue to investigate and deal with high-risk issues of equity and related-party transactions, strengthen penetrating supervision, and strictly prevent insider control and large-scaleshareholderManipulate and hollow out the risks of financial institutions; effectively promote the rectification of problems and increase the rectification rate of existing problems; improve the equity and related transaction infrastructure of small and medium-sized institutions, and improve the risk management system.

Specifically, in 2022, the following issues will be investigated and dealt with: Major shareholders violate regulationspledgeequity nesting, equity holding and other equity issues;creditbonds, discounts and other means to illegally arbitrage funds to transfer interests, insider control and major shareholders manipulate and hollow out institutions and other related transaction issues.

The notice states that eachbankInsuranceInstitutions should conduct self-examination based on the main points of the problem, in-depth investigation of hidden dangers, fully expose risks, and report problems to the regulatory authorities in a timely manner. Regulatory departments at all levels should focus on key issues to investigate thoroughly, adhere to the principle of “early identification, early warning, early intervention, and early disposal”, and strictly prevent insider control and manipulation by major shareholders to hollow out the risk of financial institutions. Make full use of the power of extended investigation and increase the frequency of supervision of major shareholders and controlling shareholders. We will increase punishment and accountability, and severely punish institutions and personnel who repeatedly investigate and commit crimes. For acts such as illegally extracting funds and failing to report and disclose related-party transactions in a truthful manner, we will intensify the efforts to pursue the responsibilities of directors, supervisors and senior managers according to law.

(Article source: ShanghaisecuritiesNewspaper Chinasecuritiesnetwork)

Article source: Shanghai Securities News China Securities Network

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Original title: In 2022, the special rectification of equity and related-party transactions of banking and insurance institutions will be launched to strictly prevent the risk of insider control and manipulation by major shareholders