Trust protection fund refers to a special fund for protecting the rights and interests of trust beneficiaries. The Measures for the Administration of Trust Industry Guarantee Fund was formally implemented on 20 16 12 1, aiming at promoting the healthy development of trust industry and protecting the interests of beneficiaries. The main contents are as follows: 1. The trust company pays the deposit. Since the implementation of these Measures, all newly established trust companies shall pay a deposit of not less than 20 million yuan, and determine the deposit ratio according to the asset management scale and risk rating of the trust company. 2. Pay insurance premiums regularly. Trust companies should pay a certain percentage of insurance premiums to the trust industry protection fund every quarter for the operation of the fund. The specific proportion shall be stipulated separately by the China Banking Regulatory Commission. 3. Scope of use. The fund is mainly used for compensation when the beneficiary's interests are damaged due to the bankruptcy or illegal operation of the trust company. The fund can also be used for the temporary transitional management of trust companies with significant risks. 4. Management organization. The management organization of the Trust Industry Guarantee Fund is established by the China Banking Regulatory Commission, which is responsible for the daily operation and management of the fund.
Is it necessary for a trust company to pay a fine for breaking the law and breaking its promise? According to the Measures for the Administration of Trust Industry Guarantee Fund, if a trust company violates the provisions of laws, regulations and rules, or constitutes a serious situation such as dishonesty, it shall pay a fine in accordance with the regulations, and the specific amount of the fine shall be separately stipulated by the China Banking Regulatory Commission.
The promulgation of the Measures for the Administration of Trust Industry Guarantee Fund has effectively protected the interests of trust industry beneficiaries and promoted the healthy development of trust industry. For trust companies, it is necessary to strengthen risk management and compliance awareness to avoid being fined or paid for breaking the law and breaking promises.
Legal basis:
Thirteenth trust industry associations, trust companies and their employees who violate these measures or other relevant laws, regulations and rules shall be punished in accordance with the relevant provisions and pay a fine in accordance with the provisions.