The Financial Stability Law proposes that the major shareholders and actual controllers of financial institutions should have good capital strength, financial status and credit records, and meet the prudential conditions stipulated by laws and administrative regulations. Non-financial enterprises, as major shareholders or actual controllers of financial institutions, should also have standardized corporate governance structure, clear equity structure and perfect risk management and internal control mechanism.
Shareholders of financial institutions shall contribute their own funds, unless otherwise stipulated by the state. Shareholders of financial institutions shall not make false capital contributions, withdraw capital contributions or illegally occupy the funds of financial institutions.
Financial institutions shall not conceal true financial data or provide false financial and accounting reports. Shareholders and actual controllers of financial institutions shall not transfer the assets of financial institutions in violation of regulations, and shall not abuse the limited liability and actual control rights of shareholders to damage the legitimate rights and interests of financial institutions, other shareholders, creditors and other stakeholders.
The actual controller of a financial institution may not conceal the actual control right by holding shares on behalf of others or concealing related party transactions.
Second, the early correction and supervision of the regulatory authorities.
The Financial Stability Law proposes that if financial institutions have risks such as abnormal fluctuations in regulatory indicators, the financial management department of the State Council should put forward risk warnings, interview directors, supervisors, senior managers, major shareholders and actual controllers, and order them to rectify within a time limit; Overdue correction, or the deterioration of regulatory indicators, endangering their own or the stable operation of the financial market, the State Council financial management department can take the following measures according to the division of responsibilities:
(1) Restrict high-risk business and stop approving new business;
(two) limit dividends, limit the remuneration and other income of directors, supervisors and senior managers;
(3) restricting the transfer of assets, controlling the credit granting for major transactions, ordering the sale of some assets and reducing the leverage ratio;
(4) In case of any event or circumstance affecting the going concern, it shall be ordered to write down or convert the loss-absorbing instruments such as capital into shares.
(5) Stop approving the establishment of additional branches;
(six) ordered to replenish capital in accordance with the requirements of the recycling plan within a time limit;
(seven) ordered to adjust the directors, supervisors and senior management personnel responsible or limit their rights;
(eight) to order the responsible shareholders to transfer their shares or restrict their rights;
(9) Other measures prescribed by laws and administrative regulations.
Third, establish a financial stability guarantee fund.
The Financial Stability Law proposes that the state establish a financial stability guarantee fund, which is managed by the national financial stability development coordination mechanism as a reserve fund to deal with major financial risks.
The financial stability guarantee fund consists of funds raised by financial institutions, financial infrastructure and other entities, as well as other funds stipulated by the State Council.
When necessary, China People's Bank refinancing and other public funds can be used to provide liquidity support for the financial stability guarantee fund, and the source of funds should be disposal income, income and industry fees.
Fourth, the disposal measures
According to the Financial Stability Law, the financial management department of the State Council can take the following measures according to law when it implements financial risk disposal with the approval of the principal responsible person:
(1) Exercising management power over the disposed financial institution.
(2) Transferring part or all of the business, assets and liabilities of a financial institution to a third party;
(3) Establishing a bridge bank and a special purpose carrier to undertake the business, assets and liabilities of the financial institution to be disposed of;
(4) Suspending the net settlement of the termination of qualified financial transactions.
(5) Ordering the replacement of directors, supervisors, senior managers and other responsible personnel who are mainly responsible for the occurrence of risks, and recovering performance pay;
(six) the disposal of financial institutions that meet the requirements stipulated by the financial management department of the State Council, and the implementation of equity, debt write-down and debt-to-equity swap;
(seven) to suspend the remittance of funds abroad by the financial institution being disposed of, and to require the financial institution being disposed of to repatriate overseas assets;
(8) Dispose of systemically important financial institutions, and require domestic and overseas institutions of the Group to provide necessary support to keep key financial services and functions uninterrupted.
(nine) other disposal measures stipulated by laws and administrative regulations or approved by the State Council.
Verb (abbreviation of verb) legal responsibility
The Financial Stability Law proposes that the major shareholders and actual controllers of financial institutions shall be investigated for criminal responsibility according to law if they have any of the following circumstances during the formation and disposal of financial risks, which constitutes a crime; If it does not constitute a crime, it shall be punished by the relevant financial management department of the State Council in accordance with the provisions of relevant laws and administrative regulations; If the relevant laws and administrative regulations do not stipulate punishment, the illegal income shall be confiscated and a fine of more than 1 times and less than 10 times shall be imposed; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one million yuan but not more than ten million yuan shall be imposed; Give a warning to the person directly responsible and impose a fine of 200,000 yuan to 2 million yuan:
(1) making false capital contribution, circulating capital contribution, withdrawing capital contribution or making capital contribution with non-owned funds in violation of regulations;
(2) Concealing the actual control right;
(3) illegally occupying the funds of financial institutions or clients;
(4) Concealing the true financial data of financial institutions or providing false financial and accounting reports;
(five) illegal transfer of equity and assets of financial institutions;
(6) Other circumstances in which the abuse of shareholders' rights or control rights leads to the formation, expansion or spread of financial risks.