Circular of the China Insurance Regulatory Commission on Regulating the Work of Preventing Personnel Liable for Cases Involving the Insurance Industry from Leaving China and Working Abroad

Circular of the China Insurance Regulatory Commission on Regulating the Work of Preventing Personnel Liable for Cases Involving the Insurance Industry from Leaving China and Working Abroad

Bao Jian Fa [2010] No. 88

October 15, 2010

To all the departments, and all the branches of the China Insurance Regulatory Commission:

With the purposes of strengthening the insurance supervision and administration, preventing and eliminating risks and regulating the work of preventing personnel liable for cases involving the insurance industry from leaving China and working abroad, a circular on relevant issues concerning such work is hereby given as follows:

I. In accordance with Article 154 of the Insurance Law of the People's Republic of China, the China Insurance Regulatory Commission may request entry and exit administration agencies to take preventive measures against a person liable for a case involving the insurance industry seeking to leave China.
A person liable for the case refers to a director, supervisor, senior executive or any other person bearing direct liability for an insurance company (including insurance group (holdings) company) under rectification, takeover, or liquidation or in facing a major risk.

II.
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