China Banking Regulatory Commission released the "Measures for the Management of Internal Control of Financial Company"

In order to implement the important deployment of the Party Central Committee and the State Council on strengthening the construction of financial rule of law, promoting financial management companies to operate and continue to operate in accordance with laws and regulations, in accordance with the principles of honesty, diligence, and diligence Laws such as laws and regulations and the "Guiding Opinions on Regulating the Asset Management Business of Financial Institutions", the China Banking Regulatory Commission formulated the "Measures for the Management of Internal Control of Financial Company" (hereinafter referred to as the "Measures"), which will be implemented from the date of announcement.

From April 29th, 2022 to May 29, 2022, the China Banking Regulatory Commission solicited opinions on the society publicly on the "Measures", carefully studied feedback one by one, fully absorbed scientific and reasonable suggestions, and further improved the "Measures".

The "Guidance Opinions on Regulating the Asset Management Business of Financial Institutions", "Measures for the Supervision and Management of Commercial Bank Wealth Management Business", and "Administrative Measures for Commercial Bank of Wealth Management" and other regulations are refined and supplemented. The fundamental follow of the internal control management of wealth management companies. The Measures have a total of 46 chapters, which are general rules, internal control responsibilities, internal control activities, internal control protection, internal control supervision, and attachment.

The "Measures" adhere to the principles of problem orientation, industry benchmark, risk bottom line, and protect investors' legitimate rights and interests, and require wealth management companies to establish comprehensive, balanced, matching and prudent internal control management mechanisms and organizational structures, strengthen financial business account management, improve investment decision -making hierarchy The authorization mechanism, improve the full -process management system of transaction, implement comprehensive management of key personnel in important positions, strengthen the management and risk isolation of affiliated transaction, protect investors' legitimate rights and interests, and give full play to the internal supervision of internal control function departments and internal audit departments.

The "Measures" reflect the concept of the administration of the civil supervision. It is an important institutional guarantee for wealth management companies to better fulfill the duties of trust management and the obligations of faith and justice. It is the inherent requirements of the high -quality development of wealth management business. The release and implementation of the "Measures" is conducive to promoting the unity of the supervision standards of similar asset management business, enhancing the concept and compliance awareness of the rule of law, and promoting the construction of the internal control compliance management system that is compatible with its own business scale, characteristics and risk status, and promote the formation of the wealth management industry formation Good development of ecology. The CBRC will do a good job of implementing the "Measures", continuously urge wealth management companies to strengthen the construction of internal control compliance management, improve the quality and efficiency of operation management, enhance risk prevention capabilities, and promote the healthy and sustainable development of wealth management business.

- END -