The CSRC responded to "requiring foreign investment banks to report executives' salary det

The person in charge of the relevant departments of the Securities and Futures Commission answered the reporter.

Question: Recently, some media reported that the China Securities Regulatory Commission held a meeting in Shanghai and Beijing this year, asking foreign investment banks to report the details of the salary of executives and proposed not to give the executive too high salary. What are the comments of the CSRC?

Answer: The above reports are false news. We have not held the above -mentioned meeting with the relevant Securities Regulatory Bureau and the Industry Association. The salary system is an important part of corporate governance. Building a scientific and reasonable compensation system is the basis for maintaining the core competitiveness of the industry and the basis for maintaining the steady and sustainable development of the industry. The global regulatory authorities have paid more attention to the relevant system of compensation incentives in recent years in order to prevent financial risks caused by excessive speculation and excessive incentives. In the 2008 financial crisis lesson lessons, the financial crisis of the Financial Stability Council stated: "The high salary of large financial institutions is based on short -term high profits, ignoring the long -term risks of financial companies, which is one of the main factors that lead to the financial crisis." Europe and the United States and other countries and international organizations have formulated relevant regulatory systems and rules for the management of compensation in the financial industry, such as the "Principles of Stable Salary Practice", the EU issued "Fourth Capital Requirements instructions", the Federal Reserve's "Financial "Enterprise remuneration policy supervision plan" shall supervise the salary of financial practitioners to avoid excessive speculative behaviors to obtain high salaries.

To guide industry institutions to establish a stable salary system, improve the compensation incentive and restraint mechanism, and promote the high -quality development of the industry. Recently, the regulatory authorities will be in the industry associations to fully listen to the industry opinions and suggestions, and the securities industry associations and fund industry associations have issued a salary management guideline, which reflects the respect of the basic laws of the market, based on the actual situation of the industry, and the main responsibility The basic idea of ​​preventing short -term excessive incentives aims to consolidate the foundation, risk control foundation, compliance foundation, cultural foundation and talent foundation of the development of the industry, better serve the real economy and prevent financial risks. It does not involve the total salary and specific operation methods. The core system includes: strengthen long -term incentive constraint mechanism, and implement deferred payment arrangements. It is clear that it is not allowed to carry out business through drying and personnel, and the salary income of the employees will not be directly linked to the project income they undertake or contract. Establish and improve core employee bonuses and investment mechanisms such as business management and fund managers, and implement a system for recovery and deduction of illegal responsible personnel. Support the securities fund industry to explore the implementation of a variety of long -term incentives and constraints, and weaken the proportion of assessment of indicators such as scale ranking, short -term performance, income profit and other indicators.

In recent years, in accordance with the unified deployment of the national financial industry to the outside world, I will adhere to the principles of marketization, rule of law, and internationalization, relax and cancel the restrictions on foreign -funded shares of securities fund operation institutions. The overall development of the institution is good. I will uniformly supervise it in accordance with laws and regulations, and fully respect the autonomy of the institution's operating decision -making autonomy.

Source: CSRC website

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