Administrative Punishment Measures of China Banking Regulatory Commission (Revised in 2007)
Administrative Punishment Measures of China Banking Regulatory Commission (Revised in 2007)
Administrative Punishment Measures of the China Banking Regulatory Commission (Revised in 2007)
Order of the China Banking Regulatory Commission [2007] No.5
July 3, 2007
(Promulgated and implemented by the Order of the China Banking Regulatory Commission [2004] No.7; and revised according to the Decision of the China Banking Regulatory Commission on Revising the Administrative Punishment Measures of the China Banking Regulatory Commission as adopted at the 54th chairman's executive meeting of China Banking Regulatory Commission on December 28, 2006)
Chapter I General Provisions
Article 1 For the purposes of regulating the imposition of administrative punishments by China Banking Regulatory Commission (hereinafter referred to as the CBRC) and its dispatched offices, maintaining the order of the banking industry and protecting the lawful rights and interests of the financial institutions in the banking industry, other entities and individuals, these Measures are formulated in accordance with the Law of the People's Republic of China on Administrative Penalties , Banking Supervision Law of the People's Republic of China, Law of the People's Republic of China on Commercial Banks and other relevant laws and administrative regulations.
Article 2 The CBRC and its dispatched offices shall comply with these Measures in giving an administrative punishment to a financial institution, any other entity or individual who violates any law, administrative regulation or rule.
Article 3 The CBRC and its dispatched offices shall base their imposition of administrative punishments on the laws, administrative regulations as well as rules and regulations. The regulatory documents at a lower level than rules and regulations shall not establish any administrative punishment, nor may they be the basis for any administrative punishment.
Article 4 An administrative punishment shall comply with the principle of lawfulness, impartiality and openness.
The imposition of an administrative punishment shall be based on facts, and shall be in match with the facts, nature and circumstances of an illicit act as well as the extent of harm of the illicit act to the society.
An administrative punishment without statutory basis or without following the statutory proceedings shall be invalidated.
Article 5 The imposition of administrative punishments by the CBRC and its dispatched offices shall comply with the principle of separating investigation from punishment.
The supervision and inspection departments of the CBRC and its dispatched offices shall be responsible for accepting and investigating into the administrative punishment cases, put forward punishment opinions; the legal departments shall be responsible for reviewing the lawfulness and appropriateness of the punishment opinions and organizing hearings. The person-in-charge or chairmen's meeting (directors' meeting) of the CBRC and its dispatched offices shall be responsible for deciding the administrative punishment.
Without being subject to the review of the corresponding legal department, no administrative punishment may be imposed.
Article 6 When the CBRC or any of its dispatched offices imposes an administrative punishment upon a banking financial institution, it shall order this banking financial institution to impose a disciplinary sanction upon the directly liable director, senior managerial personnel and other directly liable persons. If any crime is constituted, it shall transfer them to the judicial organ for criminal liabilities.
Article 7 The administrative punishments consist of:
1. warning;
2. monetary penalty;
3. confiscating illegal gains;
4. ordering the banking financial institution involved to suspend business for rectification;
5. revoking the financial business operation permit of the banking financial institution involved;
6. disqualifying the directors or senior managerial personnel from their current positions;
7. other administrative punishments as provided for by the laws and administrative regulations.
Article 8 A banking financial institution, any other entity or individual shall have the right to statement and the right to defense when it (he) is given an administrative punishment by the CBRC or any of its dispatched institution. If it (he) refuses to accept the administrative punishment, it (he) shall be entitled to apply for administrative reconsideration or lodge an administrative lawsuit.
Where a banking financial institution, any other entity or individual suffers any damage from an administrative punishment unlawfully imposed upon it (him) by the CBRC or by any of its dispatched offices, it (he) shall be entitled to claim compensations pursuant to law.
Chapter II Jurisdiction and Application
Article 9 The CBRC shall impose administrative punishments on the following illicit acts:
1. The illicit acts conducted by the banking financial institutions and their working personnel that are subject to the direct supervision of the CBRC;
2. The illicit acts that have nationwide bad consequences; and
3. Other illicit acts that the CBRC deems should be directly investigated and punished by it.
Article 10 An institution dispatched by the CBRC shall be responsible for imposing an administrative punishment upon the following illicit acts occur within its jurisdiction:
1. The illicit acts conducted by the banking financial institutions that are subject to its supervision; and
2. The illicit acts conducted by other entities and individuals.
Article 11 The administrative punishment as revoking a financial business operation permit shall be imposed by the banking supervisory institution, which issued this permit.
The administrative punishment of ordering a banking financial institution to suspend business for rectification shall be imposed by the banking supervisory institution, which ratified the establishment of this banking financial institution.
Article 12 Where there is any jurisdictional dispute between the institutions dispatched by the CBRC, it shall be reported to their common organ at the next higher level for designating jurisdiction.
Article 13 The superior banking supervisory institution may directly investigate into and punish an illicit act that occurs within the jurisdiction of a subordinate banking supervisory institution and that has caused severe consequences.
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Order of the China Banking Regulatory Commission [2007] No.5
July 3, 2007
(Promulgated and implemented by the Order of the China Banking Regulatory Commission [2004] No.7; and revised according to the Decision of the China Banking Regulatory Commission on Revising the Administrative Punishment Measures of the China Banking Regulatory Commission as adopted at the 54th chairman's executive meeting of China Banking Regulatory Commission on December 28, 2006)
Chapter I General Provisions
Article 1 For the purposes of regulating the imposition of administrative punishments by China Banking Regulatory Commission (hereinafter referred to as the CBRC) and its dispatched offices, maintaining the order of the banking industry and protecting the lawful rights and interests of the financial institutions in the banking industry, other entities and individuals, these Measures are formulated in accordance with the Law of the People's Republic of China on Administrative Penalties , Banking Supervision Law of the People's Republic of China, Law of the People's Republic of China on Commercial Banks and other relevant laws and administrative regulations.
Article 2 The CBRC and its dispatched offices shall comply with these Measures in giving an administrative punishment to a financial institution, any other entity or individual who violates any law, administrative regulation or rule.
Article 3 The CBRC and its dispatched offices shall base their imposition of administrative punishments on the laws, administrative regulations as well as rules and regulations. The regulatory documents at a lower level than rules and regulations shall not establish any administrative punishment, nor may they be the basis for any administrative punishment.
Article 4 An administrative punishment shall comply with the principle of lawfulness, impartiality and openness.
The imposition of an administrative punishment shall be based on facts, and shall be in match with the facts, nature and circumstances of an illicit act as well as the extent of harm of the illicit act to the society.
An administrative punishment without statutory basis or without following the statutory proceedings shall be invalidated.
Article 5 The imposition of administrative punishments by the CBRC and its dispatched offices shall comply with the principle of separating investigation from punishment.
The supervision and inspection departments of the CBRC and its dispatched offices shall be responsible for accepting and investigating into the administrative punishment cases, put forward punishment opinions; the legal departments shall be responsible for reviewing the lawfulness and appropriateness of the punishment opinions and organizing hearings. The person-in-charge or chairmen's meeting (directors' meeting) of the CBRC and its dispatched offices shall be responsible for deciding the administrative punishment.
Without being subject to the review of the corresponding legal department, no administrative punishment may be imposed.
Article 6 When the CBRC or any of its dispatched offices imposes an administrative punishment upon a banking financial institution, it shall order this banking financial institution to impose a disciplinary sanction upon the directly liable director, senior managerial personnel and other directly liable persons. If any crime is constituted, it shall transfer them to the judicial organ for criminal liabilities.
Article 7 The administrative punishments consist of:
1. warning;
2. monetary penalty;
3. confiscating illegal gains;
4. ordering the banking financial institution involved to suspend business for rectification;
5. revoking the financial business operation permit of the banking financial institution involved;
6. disqualifying the directors or senior managerial personnel from their current positions;
7. other administrative punishments as provided for by the laws and administrative regulations.
Article 8 A banking financial institution, any other entity or individual shall have the right to statement and the right to defense when it (he) is given an administrative punishment by the CBRC or any of its dispatched institution. If it (he) refuses to accept the administrative punishment, it (he) shall be entitled to apply for administrative reconsideration or lodge an administrative lawsuit.
Where a banking financial institution, any other entity or individual suffers any damage from an administrative punishment unlawfully imposed upon it (him) by the CBRC or by any of its dispatched offices, it (he) shall be entitled to claim compensations pursuant to law.
Chapter II Jurisdiction and Application
Article 9 The CBRC shall impose administrative punishments on the following illicit acts:
1. The illicit acts conducted by the banking financial institutions and their working personnel that are subject to the direct supervision of the CBRC;
2. The illicit acts that have nationwide bad consequences; and
3. Other illicit acts that the CBRC deems should be directly investigated and punished by it.
Article 10 An institution dispatched by the CBRC shall be responsible for imposing an administrative punishment upon the following illicit acts occur within its jurisdiction:
1. The illicit acts conducted by the banking financial institutions that are subject to its supervision; and
2. The illicit acts conducted by other entities and individuals.
Article 11 The administrative punishment as revoking a financial business operation permit shall be imposed by the banking supervisory institution, which issued this permit.
The administrative punishment of ordering a banking financial institution to suspend business for rectification shall be imposed by the banking supervisory institution, which ratified the establishment of this banking financial institution.
Article 12 Where there is any jurisdictional dispute between the institutions dispatched by the CBRC, it shall be reported to their common organ at the next higher level for designating jurisdiction.
Article 13 The superior banking supervisory institution may directly investigate into and punish an illicit act that occurs within the jurisdiction of a subordinate banking supervisory institution and that has caused severe consequences.
......