Cedar International was fined 4.4 million, and the compliant development of the trust industry was far away

◎ Text "Fighter" magazine all media reporter Li Yunshi

On July 22, the website of the China Banking Regulatory Commission released information showing that Cedar International Trust Co., Ltd. (hereinafter referred to as "Cedar Trust") was fined 4.4 million yuan in fines for its violations of regulations. As soon as the news came out, the problem of illegal operations of the trust company attracted attention.

Cedar trust and multiple executives were fined

The Cedar Trust was formerly known as the Jiangxi Provincial International Trust Investment Company. In June 1981, it was registered and established in Nanchang City, Jiangxi Province. In 2003, with the approval of the People's Bank of China, Jiangxi International Trust Investment Corporation, Jiangxi Development Trust Investment Co., Ltd. and Ganzhou Trust Investment Corporation were established as a new Jiangxi International Trust Investment Co., Ltd. In 2012, the company was renamed Zhongjiang International Trust Co., Ltd.. In April 2019, with the approval of the China Banking Regulatory Commission, Cedar Holding Group became the company's new controlling shareholder. In June of the same year, it was officially renamed Cedar International Trust Co., Ltd. As of the end of 2021, the company's registered capital was RMB 3.05 billion.

The China Banking Regulatory Commission Jiangxi Regulatory Bureau 2022 An Administrative Penalty Information Public Information Public Table (Ganyin Insurance Supervisory Decision [2022] No. 30) shows that Cedar Trust sets up non -financial subsidiaries and conducts related transactions due to illegal investments; it has not effectively fulfilled the effective performance; Management responsibilities; illegal issuance of ownership loans and unrelated transactions have not been reported; illegal provision of financing and receiving local government guarantees to local governments illegally, the Jiangxi Supervision Bureau of the China Banking Regulatory Commission Jiangxi Regulatory Bureau in accordance with the 45th of the 45th Bank of the People's Republic of China, Article 46, a fine of 4.4 million yuan.

At the same time, seven internal personnel such as Qiu Qiang, chairman of Cedar Trust, Yi Qinhua, deputy general manager of Cedar Trust, and Zhou Yueming, deputy general manager of Cedar Trust were directly responsible for the company's aforementioned violations. The Jiangxi Supervision Bureau of the China Banking and Insurance Regulatory Commission, in accordance with Article 48 of the "People's Republic of China Banking Industry Supervision and Administration Law", warned Qiu Qiang to ban the banking industry for life; Zhou Yueming warned that 50,000 yuan was fined. The remaining four were also punished accordingly.

The trust industry is strictly supervised

Public data shows that since the "Guidance Opinions on Regulating the Asset Management Business of Financial Institutions" (hereinafter referred to as the "New Regulations for Asset Management") in 2018, " The peak of the scale fell to 2020.49 trillion yuan in 2020. The scale has continued to decline in 3 years. However, the average balance of the average trust assets of the 61 trust companies that had been publicly reported in 2021 was more than 3,200 million yuan, an increase of 1.17%year -on -year, and the first time it achieved a rise in declines.

On July 25, a reporter from "Legal" interviewed the Bai Plateau of the Kyoto Law Firm. "After the release of the new rules of asset management, the original business of the trust industry was severely impacted, the scale of real estate trust and channel business dropped, and broke the rigid exchange. (After the trust product expires, the trust company must allocate the principal and income of the investor. When the trust plan cannot be redeemed or paid as difficult as scheduled, the trust company is processed by issuing a new product to the pocket) and the funding of the funds pool, so that each of them makes each each, so that each of each of them makes each each, so that each of them makes each of each. Trust companies have experienced changes in pain and business adjustments, and even many trust companies have caused thunderstorms. In addition, many trust companies have been fined by regulatory departments due to unsatisfactory exhibition industry during the transitional period of asset management regulations. "

Yuan Quan, a lawyer of Beijing Strategy Law Firm, introduced to reporters that the problem of violations of the trust industry mainly includes illegal investment scope (such as the "four certificates of incomplete real estate projects), the violations of the credit increase measures (such as the acceptance of local government guarantees), the source of funds and the source of funds and the source of funds and the source of funds The transaction structure illegal regulations (such as illegal conducting channel financing business, investing in different trust plans managed by the company in the same project, illegal development of non -standard funds pools, etc. with shadow banking characteristics), illegal regulations for sales (Introduction to non -financial institutions promotion in violation A trust plan and promotion trust plan exaggerate the company's past business performance), illegal rigid payment, inadequate information disclosure, and inadequate due diligence investigation.

"Many of the above issues are prohibited behaviors for new rules of asset management." Yuan Quan told reporters that on the one hand, the original business model is still attractive to some trust companies, and on the other hand It has a great impact on the trust industry. When the business scale is difficult to grow, and the new business has not achieved the results, some trust companies still have "crimes".

Urgently need to improve the compliance risk management system

In recent years, some trust companies have concentrated on lightning, with a large scale of breach of contract, and the large number of investment institutions and investors involved in the number of investors and investors. Yuan Quan told reporters that in the past three years, many trust companies still have the red line of new rules of capital management. Some obvious unsatisfactory products still appear in the market because there are still loopholes in the compliance control of these companies.

On July 25, economist Song Qinghui told reporters that in the context of uncertain economic environment, the end of the ten -year "golden development period" of the trust company seems to reflect the bottleneck in the development of the trust industry, but its essence is because of the entity In recent years, the economy has been hindered due to various factors. The flexibility of the supply chain link is not as good as before 2018, that is, the proportion of raw materials and pledge of the raw materials produced by the subject matter construction, and the later sales repayment situation. influences. Regarding the influence of the new rules of asset management, Song Qinghui said that after the launch of the new asset management regulations, the surface is limited to the development of the trust industry. In fact, it is to avoid falling into the deep pit in advance. After the new regulations were introduced, the Chinese trust industry risk project made risk control management to the corresponding products with stricter standards, showing that the trust company attaches great importance to and strictly controlling the policy requirements under the policy requirements.

In the long run, the standardized trust industry can bid farewell to barbaric growth, take service the real economy as the primary goal, give full play to the important role of optimizing the real economy financing allocation, and promote the virtuous cycle of the trust industry and the entity industry to promote the physical industry and the physical industry.

Regarding the compliance development of the industry, Yuan Quan said that after the release of the new rules of asset management, the regulatory departments successively issued corresponding regulations and implementation rules. The China Banking Regulatory Commission has also released the "Interim Measures for the Management of Trust Trust (Draft for Opinions)", which is the core of the capital trust business from the aspects of the funding trust business management principle, the trust responsibility of the trust company and the business rules of the trust company, and the internal management requirements of the trust company. The points are standardized and defined. As the regulatory authorities continuously improve the compliance regulatory system, while the trust company accelerates business transformation, it is also necessary to keep up with the pace of regulatory supervision and establish a more comprehensive compliance risk management system. Trust companies must clarify their responsibilities and establish a long -term rules and regulations and system construction mechanisms; second, we must strengthen the construction of compliance teams, and set up compliance personnel and full -time compliance positions in the business department; third, strengthen compliance supervision supervision With the assessment, enhance compliance execution; the fourth is to establish a compliance concept and continue to promote the company's compliance cultural construction.

Editing ｜ Cui Xiaolin

Edit ｜ Bai Kui

School pair ｜ Zhang Bo Zhang Xuehui

- END -