Administrative Punishment Measures of the China Banking Regulatory Commission
Administrative Punishment Measures of the China Banking Regulatory Commission
Order of the China Banking Regulatory Commission on Issuing the Administrative Punishment Measures of the China Banking Regulatory Commission
Order of the China Banking Regulatory Commission [2004] No. 7
December 28, 2004
The Administrative Punishment Measures of China Banking Regulatory Commission adopted at the 26th chairman's meeting of China Banking Regulatory Commission on October 12, 2004 are hereby promulgated and shall be implemented as of February 1, 2005.
Liu Mingkang, Chairman of China Banking Regulatory Commission
Administrative Punishment Measures of China Banking Regulatory Commission
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"CBRC") and its agents, maintaining the order of the banking industry and protecting the legitimate 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, the Banking Supervision Law of the People's Republic of China, the Law of the People's Republic of China on Commercial Banks and other relevant laws and administrative regulations.
Article 2 CBRC and its agents shall comply with these Measures in giving an administrative punishment to a financial institution or other entity or individual who violates any law, administrative regulation or rule.
Article 3 CBRC and its agents shall base their imposition of administrative punishments on applicable 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 impact of the illicit act on the society.
An administrative punishment without statutory basis or beyond the statutory procedures shall be invalidated.
Article 5 The imposition of administrative punishments by CBRC and its agents shall comply with the principle of separating investigation from punishment.
The supervision and inspection departments of CBRC and its agents 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 President's Meeting (directors' meeting) of CBRC and its agents shall be responsible for deciding the administrative punishments.
Without review of the corresponding legal department, no administrative punishment may be imposed.
Article 6 When CBRC or any of its agents imposes an administrative punishment upon a banking financial institution, it shall order the banking financial institution concerned 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 to hold the violator criminally liable.
Article 7 The administrative punishments are classified into the following types:
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; and
7. Other administrative punishments provided for by applicable laws and administrative regulations.
Article 8 A banking financial institution or other entity or individual shall have the right to make statement on or defend against an administrative punishment imposed by CBRC or any of its agent. 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 or other entity or individual suffers any damage from an administrative punishment unlawfully imposed upon it (him) by CBRC or by any of its agents, it (he) shall be entitled to claim for compensations pursuant to law.
Chapter II Jurisdiction and Application
Article 9 CBRC shall impose administrative punishments on the following illicit acts:
1. The illicit acts conducted by the banking financial institutions and their staff members that are subject to the direct supervision of CBRC;
2. The illicit acts that have nationwide adverse consequences; and
3. Other illicit acts that CBRC deems necessary to be directly investigated and punished by it.
Article 10 An agent of CBRC shall be responsible for imposing an administrative punishment upon the following illicit acts occurring within its jurisdiction:
1. The illicit acts conducted by the banking financial institutions or their staff members 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 such 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 such banking financial institution.
Article 12 Where there is any jurisdictional dispute between two agents of CBRC, it shall be reported to their common superior organ for designating the jurisdiction.
Article 13 The superior banking supervisory institution may directly investigate and punish an illicit act that occurs within the jurisdiction of a subordinate banking supervisory institution and causes severe consequences.
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Order of the China Banking Regulatory Commission [2004] No. 7
December 28, 2004
The Administrative Punishment Measures of China Banking Regulatory Commission adopted at the 26th chairman's meeting of China Banking Regulatory Commission on October 12, 2004 are hereby promulgated and shall be implemented as of February 1, 2005.
Liu Mingkang, Chairman of China Banking Regulatory Commission
Administrative Punishment Measures of China Banking Regulatory Commission
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"CBRC") and its agents, maintaining the order of the banking industry and protecting the legitimate 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, the Banking Supervision Law of the People's Republic of China, the Law of the People's Republic of China on Commercial Banks and other relevant laws and administrative regulations.
Article 2 CBRC and its agents shall comply with these Measures in giving an administrative punishment to a financial institution or other entity or individual who violates any law, administrative regulation or rule.
Article 3 CBRC and its agents shall base their imposition of administrative punishments on applicable 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 impact of the illicit act on the society.
An administrative punishment without statutory basis or beyond the statutory procedures shall be invalidated.
Article 5 The imposition of administrative punishments by CBRC and its agents shall comply with the principle of separating investigation from punishment.
The supervision and inspection departments of CBRC and its agents 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 President's Meeting (directors' meeting) of CBRC and its agents shall be responsible for deciding the administrative punishments.
Without review of the corresponding legal department, no administrative punishment may be imposed.
Article 6 When CBRC or any of its agents imposes an administrative punishment upon a banking financial institution, it shall order the banking financial institution concerned 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 to hold the violator criminally liable.
Article 7 The administrative punishments are classified into the following types:
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; and
7. Other administrative punishments provided for by applicable laws and administrative regulations.
Article 8 A banking financial institution or other entity or individual shall have the right to make statement on or defend against an administrative punishment imposed by CBRC or any of its agent. 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 or other entity or individual suffers any damage from an administrative punishment unlawfully imposed upon it (him) by CBRC or by any of its agents, it (he) shall be entitled to claim for compensations pursuant to law.
Chapter II Jurisdiction and Application
Article 9 CBRC shall impose administrative punishments on the following illicit acts:
1. The illicit acts conducted by the banking financial institutions and their staff members that are subject to the direct supervision of CBRC;
2. The illicit acts that have nationwide adverse consequences; and
3. Other illicit acts that CBRC deems necessary to be directly investigated and punished by it.
Article 10 An agent of CBRC shall be responsible for imposing an administrative punishment upon the following illicit acts occurring within its jurisdiction:
1. The illicit acts conducted by the banking financial institutions or their staff members 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 such 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 such banking financial institution.
Article 12 Where there is any jurisdictional dispute between two agents of CBRC, it shall be reported to their common superior organ for designating the jurisdiction.
Article 13 The superior banking supervisory institution may directly investigate and punish an illicit act that occurs within the jurisdiction of a subordinate banking supervisory institution and causes severe consequences.
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