The full text of the local financial regulations in Anhui Province will be implemented from October 1st

Local Finance Regulations of Anhui Province

(The 35th meeting of the Standing Committee of the 13th People's Congress of Anhui Province on July 29, 2022)

Announcement of the Standing Committee of the Anhui Provincial People's Congress

(No. 70)

The "Local Finance Regulations of Anhui Province" has been approved by the 35th meeting of the Standing Committee of the 13th People's Congress of Anhui Province on July 29, 2022, which is now announced and will be implemented from October 1, 2022.

Standing Committee of the Anhui Provincial People's Congress

July 29, 2022

Table of contents

Chapter 1 General Principles

Chapter 2 Local Financial Organization

Chapter 3 Local Financial Supervision and Management

Chapter 4 Financial Risk Prevention and Disposal

Chapter 5 Prevention and disposal of illegal financial activities

Chapter 6 Local Finance Development

Chapter 7 Legal Responsibility

Chapter 8

Chapter 1 General Principles

Article 1 In order to strengthen local financial supervision and management, prevent and resolve financial risks, protect the security of the people's property, guide the financial services to the real economy, and promote the healthy development of local financial, in accordance with relevant laws and administrative regulations, and formulate these regulations in accordance with the actual situation of the province.

Article 2 These regulations are applicable to the supervision and management of the Mainland financial organizations and activities of the province's administrative region, the prevention and disposal of financial risk prevention and disposal, the prevention and disposal of illegal financial activities, and the development of local financial regions. If laws, administrative regulations, and the state have other regulations, it is stipulated.

The local financial organization referred to in these regulations refers to a small loan company established in accordance with the law and engaged in relevant financial businesses, financing guarantee companies, pawn banks, financial leasing companies, commercial factoring companies, local asset management companies and regional equity markets, and regional equity markets, as well as Laws, administrative regulations, and other organizations engaged in financial business by the State Council authorized the supervision and management of the local people's government.

Article 3 Local financial work shall follow the principles of security, prudential, standardized, and innovative development, prevent financial risks, deepen financial reforms, and promote a virtuous cycle of economic and financial financial and healthy development.

Article 4 The Provincial People's Government shall strengthen the leadership of local financial work in the province, establish and improve the local financial supervision and management system, improve the coordination mechanism of provincial financial work, and coordinate and solve major issues in the stability of local financial reform and development, implement local financial supervision and management , Financial risk prevention and disposal and illegal fundraising and disposal responsibilities.

The coordination mechanism of the provincial financial work should be connected with the local coordination mechanism of the Office of the State Council's Financial Stability Development Committee (Anhui Province) to cooperate with the improvement of financial supervision and management, risk disposal, information sharing, and consumer rights protection mechanisms from the central and local governments. Major issues of local financial work.

The municipal and county -level people's governments in the district should strengthen the leadership of the financial work of the mainland in the administrative area, strengthen the construction of local financial supervision and management and law enforcement teams, enhance local financial supervision and management capabilities, promote the development of the financial industry, implement financial risk prevention and disposal, illegal disposal, illegal disposal, illegal disposal, illegal disposal, and illegal treatment Liberation responsibility for fundraising disposal.

Article 5 The provincial local financial supervision and management departments are responsible for the supervision and management of local financial organizations in the province and their related financial activities, organize, coordinate, guide financial risk prevention and disposal, and prevent and dispose of illegal financial activities to promote local financial development.

The municipal and county -level local financial supervision and management departments have done relevant specific work under the guidance of the provincial financial supervision and management department.

The development of the people's governments at or above the county level, fiscal, public security, judicial administration, human resources and social security, market supervision and management, taxation and other departments, and do a good job of related duties.

The local financial supervision and management departments referred to in these regulations refer to administrative agencies that are established or designated by the people's governments at or above the county level to undertake relevant duties in the mainland financial supervision and management of their own administrative regions.

Article 6 The Provincial People's Government shall organize the construction of a unified local financial information system in the province, collect local financial supervision and management information, and rely on the Jianghuai Big Data Center to achieve information interconnection sharing, improve local financial supervision, management, financial risk monitoring and early warning and analysis of informationization information level Essence

Article 7 Local financial organizations shall carry out financial activities in accordance with the law, serve the real economy, assume social responsibility, take risks, bear their own profit and loss, self -restraint, and fulfill the main responsibilities of financial risk prevention and resolution.

Article 8 The relevant departments such as the people's governments at or above the county level and its local financial supervision and management shall carry out financial laws, regulations, and related knowledge to publicize and educate the education, advocate rational financial consumption concepts, improve the awareness of public financial risk prevention and illegal financial activities.

Broadcasting, television, newspapers, and Internet media should carry out public welfare publicity of financial risk prevention and illegal financial activities, and strengthen public opinion supervision.

Article 9 Promote the construction of financial cooperation mechanisms in the Yangtze River Delta region, and strengthen information sharing and collaborative linkage of local financial supervision and management, financial innovation, financial risk prevention and disposal, and provide high -quality financial services for the integrated development of the Yangtze River Delta.

Chapter 2 Local Financial Organization

Article 10 The establishment of a local financial organization shall obtain relevant financial business licenses or pilot qualifications in accordance with laws, administrative regulations and national regulations.

Without approval, no organization or individual may engage in or disguised business activities for local financial organizations.

Article 11 The following matters of local financial organizations shall be filed with local financial supervision and management departments:

(1) Establish branches;

(2) Merge and separate;

(3) Change the name, business scope, business area, residence, and registered capital;

(5) Other major matters that should be filed by laws and regulations shall be filled.

For matters stipulated in the preceding paragraph, if the state requires approval or other provisions of the filing, in accordance with its regulations.

Article 12 Local financial organizations shall establish and implement business rules and management systems such as risk management, internal control, asset quality, risk preparation, information disclosure, affiliated transactions, marketing publicity in accordance with relevant national and provincial regulations to form internal checks and balances and risks Prevention and control mechanism.

Article 13 Directors, supervisors, and senior management of local financial organizations shall comply with national and provincial supervision and management requirements, fulfill their duties and diligence, and effectively prevent and control risks.

Article 14 When local financial organizations provide financial products and services, the following financial consumer rights protection obligations shall be performed, and records are recorded by text or audiovisual:

(1) In the prominent way, financial consumers are required to pay attention to their business scope and prohibited business regulations;

(2) Inform financial consumers all expenses, interest rates, quantities, liquidated damages and calculation methods related to financial products and services related to financial consumers;

(3) Truthful and fully reveal the risks of financial products and services, understand and evaluate the risk preferences and risk tolerance of financial consumers, and provide appropriate financial products or services to appropriate financial consumers;

(4) Law, regulations and other obligations stipulated in the state.

When local financial organizations provide financial products and services, they must not violate financial consumers' wishes to bundle their products, services or other unreasonable conditions.

Local financial organizations should establish a convenient and fast dispute processing mechanism, publicize complaint acceptance methods, improve complaint processing procedures, and timely handle disputes with financial consumers.

Article 15 Local financial organizations shall establish and improve the information security system, follow the principles of legal, correct, necessary, and integrity, and collect and use information in accordance with national regulations or contracts, and properly preserve information obtained in the operation process shall not be leaked, sold or sold or sold or sold or sold or sold or sold Illegally provide financial consumer information to others.

Article 16 Local financial organizations shall submit the following materials to the local financial supervision and management department in accordance with relevant regulations.

(1) Report, statistical statements, and related information of business operations;

(2) Financial accounting report audited by an accounting firm;

(3) Explanation materials involving lawsuits, arbitration, major administrative penalties;

(4) Other materials required by the state and provincial regulations.

Local financial organizations shall submit comprehensive financial information to the local people's bank branch in accordance with regulations.

Article 17 Local financial organizations shall report to the local financial supervision and administration department in a timely manner to report the influence or may affect major matters such as business management, financial status, risk control or asset security.

Local financial organizations have difficulty in liquidity, major litigation or arbitration, the whereabouts of the main person in charge are unknown or the criminal investigation, major negative public opinion, or mass incidents, etc., should be to the local local finance within 24 hours after the incident. Supervision and management department report.

The controlling shareholder of the local financial organization or the major risk incident stipulated in the preceding paragraph of the local financial organization should report to the local financial supervision and management department in the local area within 24 hours from the time of 24 hours.

Article 18 Local financial organizations shall not engage in the following activities:

(1) Absorb deposit or disguise to absorb deposits;

(2) Documents of lending permits or pilot qualifications;

(3) illegal entrustment investment, self -employed or entrusted loan;

(4) Other activities that are prohibited from the country and the province.

Article 19 If a local financial organization no longer operates related financial businesses, it shall submit a written application or report in accordance with regulations, and submit materials such as asset status descriptions and debt disposal plans.

If the local financial organization is dissolved, bankrupt, or no longer operates related financial businesses, cancel relevant financial business licenses or cancel the pilot qualification in accordance with the law, and announce it to the society.

Article 20 Encourage local financial organizations to establish self -discipline organizations in the local financial industry. The local financial industry's self -regulatory organization shall formulate self -regulations of the industry in accordance with the articles of association, supervise, inspect members and their employees' behaviors, implement self -discipline management, cooperate with local financial supervision and management departments to carry out industry supervision and management; safeguard the legitimate rights and interests of members, reflect industry suggestions and demands; Supervise and guide members to carry out the appropriate sex education of financial consumers and investors, and carry out dispute mediation.

If the local financial industry's self -regulatory organization discovers that local financial organization members are suspected of violating the regulations of the state and provincial financial supervision and management, they shall report to the local financial supervision and management department in a timely manner.

Local financial supervision and management departments shall strengthen the guidance of self -discipline organizations in the local financial industry.

Chapter 3 Local Financial Supervision and Management

Article 21 The provincial local financial supervision and management departments shall establish and improve the supervision and management system, formulate and implement corresponding supervision and management measures for the nature, characteristics of different formats, and establish a supervision and management coordination mechanism and information sharing mechanism with relevant departments.

The local financial supervision and management department shall formulate a local financial organization supervision and inspection plan each year, and implement supervision and inspection of the operating activities of local financial organizations in accordance with the "dual -random, public" supervision and management requirements. Supervision and inspection can adopt on -site inspections and non -on -site supervision and management.

Article 22 When the local financial supervision and administration department shall take on -site inspections, the following measures may be taken:

(1) Enter the place where local financial organizations are operated;

(2) Ask the staff and ask them to explain the relevant inspection matters;

(3) Documents and materials related to checking and checking matters;

(4) Check the business information system;

(5) For evidence materials such as documents, materials, electronic equipment that may be lost or difficult to obtain in the future, register and save in accordance with the law;

(6) Other on -site inspection measures that laws, regulations and state regulations can take.

On -site inspections shall be approved by the person in charge of the local financial supervision and management department. If necessary, you can hire third -party professional institutions such as accounting firms, law firms, and appraisal agencies to assist in on -site inspections.

Local financial organizations and their staff should cooperate with the supervision and inspection of the law according to law. It truthfully explains the relevant situation and provides documents and materials.

Article 23 Local financial supervision and management departments shall strengthen non -on -site supervision and management of local financial organization business activities, and use local financial information systems to take timely and accurately to grasp their operations and risk conditions.

Local financial organizations shall access the local financial information system as required.

Article 24 The local financial supervision and administration department may conduct supervision and management conversations with the legal representative of local financial organizations, actual controllers, controlling shareholders, directors, supervisors, and senior management. Explanation of major matters of risk management.

Article 25 Local financial supervision and management departments shall establish a credit management system in the field of local financial supervision and management in accordance with relevant national and provincial regulations, and record and collect relevant credit information generated in accordance with the law.

Article 26 In the process of performing their duties in accordance with the law in accordance with the law, the local financial supervision and management department finds that local financial organizations are suspected of violating the requirements of national and provincial supervision and management requirements or other risk hazards shall be ordered. Prompt and other measures.

Article 27 Local financial supervision and management departments shall establish a local financial organization information publicity system, and announce the list of local financial organizations and related licenses, filing information and update them in time on the official website of local financial supervision and management department, government service network and other government affairs platforms. Essence

Article 28: Professional institutions, local financial industry self -regulatory organizations and staff members who assist in on -site inspections shall implement relevant regulations on national financial security and confidentiality. And personal privacy should be kept confidential, not to be leaked, disseminated and illegally used.

Chapter 4 Financial Risk Prevention and Disposal

Article 29 The people's governments at or above the county level shall establish and improve mechanisms for risk research and judgment, decision -making risk assessment, risk prevention coordination, risk prevention responsibility and other mechanisms in the financial sector, and strengthen the coordination and cooperation with the financial management department of the State Council in Anhui, and stabilize the resolution of financial risks to resolve financial risks , Safeguard the legitimate rights and interests of financial consumers and investors, and take effective measures to do a good job of maintaining social stability.

The people's governments at or above the county level shall use the local financial information system to integrate various financial supervision and management information in accordance with the law and information such as economic management and social governance closely related to local financial work, and conduct real -time monitoring, identification, early warning and prevention of financial risks.

The people's governments at or above the county level shall support local legal person financial institutions to establish business rules and management systems for risk prevention and control in accordance with the principles of prudential operations to enhance risk prevention and control capabilities.

Article 30 The people's governments at or above the county level shall formulate emergency plans for financial emergencies and carry out emergency drills.

After the financial emergencies occur, the people's governments at or above the county level should start emergency plans in a timely manner, immediately take emergency response measures, control the development of the situation, organize emergency response work, and report to the people's government at the higher level in a timely manner. Essence

If a major financial risk incident occurs in the administrative area of ​​the province and affects regional financial stability or social order, the coordination mechanism of the provincial financial work negotiations shall strengthen the coordination and cooperation with the local coordination mechanism of the State Council's Financial Stability Development Committee (Anhui Province), and organize and coordinate major financial financial finance Emergency treatment of emergencies.

Article 31 If financial institutions such as policy banks, commercial banks, village banks, insurance companies and other financial institutions such as the supervision and management of the State Council of the State Council have or may occur in major financial risks, the people's government at or above the county level shall assist the State Council's financial management department in Anhui institution Carry out risk disposal work.

The Provincial People's Government shall undertake the responsibility for the risk disposal of rural commercial banks in the province in accordance with relevant state regulations, establish and improve the corresponding working mechanism, and organize and supervise the city and county -level people's governments of the city and county -level people to do a good job of risk disposal in rural commercial banks in their own administrative areas.

If the state's duties of risk prevention and disposal of financial institutions have other regulations, it is stipulated.

Article 32 Local financial organizations shall establish and improve the risk management system and internal responsibility accountability system, and implement the supervision and management measures and requirements proposed by the local financial supervision and management department.

Article 33 If a local financial organization may have or may have major financial risks, the municipal and county -level people's governments in the local area shall organize and coordinate the relevant work of risk disposal in accordance with relevant national and provincial regulations.

If the business activities of the local financial organization have formed a major financial risk, in addition to the measures stipulated in Article 26 of these regulations, the following risk disposal measures can be taken by the principals of the local financial supervision and management department of the provincial local financial supervision and administration:

(1) Order to suspend the addition of branches;

(2) Ordering some businesses;

(3) The scale and method of restricting the use of funds;

(4) Other risk disposal measures that laws, regulations and state regulations can take.

Local financial organizations and their staff should cooperate with risk disposal measures according to law, and shall not refuse or hinders.

If the major risks of local financial organizations have eliminated and returned to normal operating capabilities, they can restore normal operations after acceptance and acceptance of the provincial local financial supervision and management department.

If a major risk of a local financial organization cannot be eliminated or cannot restore normal operating capabilities, cancel the operating license in accordance with the law or cancel the pilot qualification.

Article 34 If non -financial enterprises have difficulty in capital turnover or non -debt, etc., if they may cause or have formed major financial risks, cities and county -level people's governments where non -financial enterprises are located to organize and coordinate the relevant industry authorities and relevant industry authorities, and The supervision and management department carried out risk disposal related work.

Chapter 5 Prevention and disposal of illegal financial activities

Article 35 No organization or individual shall engage in financial business activities without permission or violation of national financial management regulations in accordance with the law.

No form of illegal financial activities.

Article 36 The prevention and disposal work of illegal financial activities shall follow the principles of preventing prevention, early and small, comprehensive governance, and stable disposal.

Article 37 The people's governments at all levels shall establish an illegal financial activity monitoring and early warning mechanism, incorporate the comprehensive social security governance system, give play to the role of grid management and grass -roots mass autonomous organizations, and use modern information technology such as big data Monitoring and early warning of financial activities.

Industry authorities and supervision and management departments shall strengthen daily supervision and management, responsible for risk investigation, monitoring and early warning of illegal financial activities in the industry and the art, and deal with it in accordance with the law.

Financial institutions and local financial organizations monitor illegal financial activities in accordance with national and provincial regulations, and report to the clues discovered by the State Council's financial management department in Anhui and local financial supervision and management departments in a timely manner; they find that financial consumers may be infringed by illegal financial activities during business activities. In order to fulfill the obligation of risk prompts in accordance with the law.

Any unit or individual has the right to report to the relevant departments for suspected illegal financial activities.

Article 38. Internet information service providers shall strengthen the management of information publishing information, and shall not produce, copy, release, and disseminate information on suspected illegal financial activities. The information suspected of illegal financial activities should be discovered, and the information should be stopped immediately, and necessary measures such as deletion, shielding, and disconnecting links should be taken to prevent information diffusion and save relevant records. Report.

Article 39 Any organization and individual who knows that others are engaged in illegal financial activities shall not participate or provide funding or assistance to them.

Provide non -financial organizations or individuals with internal credit and individuals for borrowing, investment, guarantee, leasing, factoring, buying and selling, gifts and other activities, and conduct internal credit mutual assistance. It shall regulate business, be honest and trustworthy, and accept supervision in accordance with the law, and shall not engage in financial business in disguise.

Article 40 Any organization or individual may publish an advertisement containing illegal financial activities or other ways to publicize illegal financial activities to the public in other ways.

Advertising operators, advertising publishers, advertisements involving financial business involving financial business shall be checked in accordance with laws and administrative regulations to check the relevant financial business license documents, pilot qualifications or business qualifications, and check the advertising content. For advertisements with incomplete or inconsistent content of relevant financial business license, pilot qualifications or approved documents, advertising operators shall not provide design, production, agency services, and advertising publishers shall not publish.

Article 41 If the financial management department of the State Council in Anhui and the local financial supervision and management department shall conduct investigations and disposal of suspected illegal financial activities in accordance with the law, and the people's governments at or above the county level shall organize and coordinate relevant departments to adopt the following supervision and inspection measures:

(1) Registration competent authority to strengthen the supervision and inspection of relevant organization names, business scope and shareholders;

(2) Supervision and management of market supervision and management, online information and other departments to strengthen the supervision and inspection of related organizations and personal advertising, financial information services and other matters;

(3) The communication management department strengthens the supervision and inspection of related organizations, personal websites, mobile applications and other matters;

(4) The tax department strengthens the supervision and inspection of relevant organizations and personal taxation matters;

(5) Relevant industry authorities and supervision and management departments have strengthened the supervision and inspection of relevant organizations and personal behavior behaviors.

Article 42 After the illegal financial activities are identified in accordance with the law, the relevant financial supervision and management departments shall order financial institutions and local financial organizations to stop providing services for illegal financial activities. Take credit management measures. If illegal financial activities do not constitute a crime, the approval authority, the competent unit, the establishment unit, or the people's governments at or above the county level supervise the organization and personal cleanup debt of the organization and individuals engaged in illegal financial activities in accordance with the law.

Chapter 6 Local Finance Development

Article 43 The Provincial People's Government shall organize the preparation of financial development plans for their own administrative regions in accordance with the national economic and social development planning and national financial policies, coordinate the promotion of the real economy of the service, and promote a virtuous circle of economy and financial. The financial development plan should include local financial reform, financial resource agglomeration, financial market construction, and financial environment optimization.

The municipal people's governments in the district can formulate financial development plans for their administrative regions in accordance with the actual situation of the local area.

Article 44 The people's governments at or above the county level shall formulate policies and measures to promote the construction of a multi -level financial support service system such as local venture capital, bank credit, bond markets, stock markets, insurance markets, and equity trading markets, and promote the establishment of inclusiveness The modern financial system provides financial services for the development of the local real estate industry and market entities.

Article 45 The people's governments at or above the county level shall improve the government financing guarantee system, promote the business model of the risk ratio of new political and silver, and establish and improve the mechanism of supplementary capital supplements and guarantee risk compensation. The role of micro -enterprise and agriculture, rural, and farmers' financing.

Article 46 The people's governments at or above the county level shall formulate and improve the policy of financial development, establish and improve the incentive evaluation mechanism, support the development of inclusive finance, green finance and technology finance, and encourage financial elements to invest in key industries, projects and key areas. Guide industrial transformation and upgrading, serve the construction of a source of scientific and technological innovation, the gathering place of emerging industries, the new highland of reform and opening up, and the construction of a comprehensive green transformation area for economic and social development.

Article 47 Encourage financial institutions and local financial organizations to develop supply chain finance under the premise of controlling risks. Support financial institutions, local financial organizations and industrial chain core enterprises, third -party professional institutions, etc. to strengthen information sharing, rely on the core enterprises of the industrial chain to build upstream and downstream integration, digital, intelligent information systems and credit evaluation, and risk management systems to enhance the industry Chain overall financial service level.

Article 48 The people's governments at or above the county level shall establish and improve the financing docking mechanism of government, financial institutions and enterprises, give play to the role of financing service platforms, and guide financial institutions to docking enterprises and projects.

Article 49 The people's governments at or above the county level shall establish and improve the work mechanism of direct financing services, support eligible enterprises to issue stocks, bonds and other financing instruments in accordance with the law, support enterprises to expand the scale of direct financing, and increase the proportion of direct financing.

The Provincial People's Government and its relevant departments shall promote the construction of the provincial equity investment fund system.

The Provincial People's Government and its relevant departments shall support the construction of the provincial regional equity market, and promote the listing of "specialized new" enterprises and high -tech enterprises in the provincial regional equity market; strengthen provincial equity custody trading institutions and banks, securities, insurance, funds In the cooperation of institutions, strengthen roadshow docking and financing functions, and support the development of listed enterprises.

Article 50 The people's governments at or above the county level shall strengthen the introduction of financial institutions and strengthen policy support for financial institutions in the province.

The people's governments at or above the county level shall incorporate the training and introduction of financial talents into the talent support policy system, and provide policy support to high -level financial talents in accordance with regulations.

Article 51 The Provincial People's Government and its relevant departments shall strengthen the construction of the financial credit environment in accordance with relevant national and provincial regulations, and incorporate the relevant credit information of market entities into the provincial public credit information service platform.

Encourage financial institutions to give preferential or convenience for market entities with good credit conditions they have identified in good credit conditions.

Chapter 7 Legal Responsibility

Article 52 In violation of the provisions of Article 10 of these Regulations, if they are not approved to engage in business activities of local financial organizations, the local financial supervision and management department shall order to stop operating, confiscate illegal income, and shall be more than 500,000 yuan and one million yuan. The following fines.

Article 53 If the provisions of Article 11 of these regulations, if the local financial organization fails to handle matters in accordance with regulations, the local financial supervision and management department shall order If the fine, the circumstances are serious, or order to stop the business.

Article 54 In violation of Article 16, paragraph 1, paragraph 1 to 3 of these regulations, if the local financial organization fails to submit relevant materials in accordance with the requirements, the local financial supervision and management department shall order , Pure fines of 10,000 yuan or less.

Article 55 If the provisions of Article 17 of these Regulations, if the local financial organization fails to report major matters and major risk events in accordance with the regulations, the local financial supervision and management department shall order correction within a time limit and impose a fine of 10,000 yuan or less than 50,000 yuan. ; If the circumstances are serious, a fine of 50,000 yuan or less than 200,000 yuan.

Article 56 If the local financial organization violates the provisions of Article 18 (2) of these regulations, shall obtain documents with a loan or rental license or a pilot qualification, or violate the third provisions of item , Local financial supervision and management department ordered correction within a time limit, confiscated illegal income, and imposed a fine of more than 200,000 yuan or less; if it is not corrected within the time limit, the business is ordered to be suspended and rectified; if the circumstances are serious Followed out the business license or disqualification of the pilot. Article 57 In violation of Article 22 (3) of Article 22, Article 33 (3) of these Regulations, local financial organizations refuse and hinder the implementation of on -site inspections or risk disposal measures in accordance with the law or obstruct the local financial supervision and management department. The local financial supervision and management department ordered a certain time to make corrections within a time limit and imposed a fine of more than 10,000 yuan to 50,000 yuan; if the circumstances were serious, a fine of 50,000 yuan and more than 200,000 yuan was imposed.

Article 58 If the local financial supervision and administration department shall impose administrative penalties for local financial organizations in accordance with these regulations, in accordance with the specific situation, directors, supervisors or senior management personnel who have direct responsibilities may at the same time Fine fines.

Article 59 In violation of the provisions of these regulations, relevant departments and staff of local financial supervision and management and other relevant departments and their staff who abuse their powers, neglect their duties, and have private fraud in local financial supervision and management shall be punished in accordance with the law.

Article 60 Acting violates the provisions of these regulations and shall be implemented in accordance with the provisions of laws and administrative regulations, shall be implemented in accordance with its provisions; criminal responsibility shall be investigated in accordance with the law.

Chapter 8

Article 61 The risk prevention and disposal of investment companies and farmers' professional cooperatives, social crowdfunding institutions, and local trading venues shall be implemented with reference to the relevant provisions of these regulations.

Article 62 These regulations shall be implemented from October 1, 2022.

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