Legal basis: Article 174 of the Criminal Law of People's Republic of China (PRC) establishes commercial banks, stock exchanges, futures exchanges, securities companies, futures brokerage companies, insurance companies or other financial institutions without the approval of the relevant competent departments of the state, and shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also or only be fined not less than 20,000 yuan but not more than 200,000 yuan; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan.
Whoever forges, alters or transfers the business licenses or approval documents of commercial banks, stock exchanges, futures exchanges, securities companies, futures brokerage companies, insurance companies or other financial institutions shall be punished in accordance with the provisions of the preceding paragraph.
If a unit commits the crimes mentioned in the preceding two paragraphs, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the first paragraph.