On March 2 1, Jiangsu Securities Regulatory Bureau of China Securities Regulatory Commission found that there were four kinds of irregularities in the fund sales business of Nanjing Bank, except for the false propaganda accused by investors before. It also includes failure to issue an annual regulatory audit report, failure to report two management systems on fund sales to the CSRC, omission of customer's signature in the application form of Nanjing Bank's fund consignment business, failure of individual personnel to obtain the certificate of "Securities Market Basic Knowledge Examination" for selling fund products, and incomplete preservation of relevant information on fund products sold by individual branches.
The rule of law weekend reporter also learned that on March 3 1, the jurisdiction objection raised by Nanhu Sub-branch of Nanjing Bank against an investor v. its contract dispute case was rejected by the court. On February 22nd, Guangzhou Road Sub-branch of Nanjing Bank raised a jurisdictional objection to a similar case, which was rejected by another court (this newspaper reported on February 24th). Moreover, in these two cases, two branches of Nanjing Bank raised jurisdiction objections based on a blank "Xinyuan Half-year Regular Open Bond Securities Investment Fund Fund Contract" (hereinafter referred to as the "Fund Contract") of China Everbright Bank.
Some irregularities were ordered to be corrected.
Since June 20 15, Bank of Nanjing has sold Xinyuan Fund with such propaganda contents as "half-year absolute return 13%", "low time deposit return, high stock market risk" and "moderate and low risk steady appreciation", resulting in economic losses of investors ranging from 20,000 yuan to 30,000 yuan. After the matter was disclosed by the media and investors complained to the regulatory authorities continuously, on March 2 1, Jiangsu Securities Regulatory Bureau of China Securities Regulatory Commission issued the Decision on Taking Rectification Measures against Nanjing Bank Co., Ltd.
Jiangsu Securities Regulatory Bureau conducted an on-site inspection on the fund sales business of Nanjing Bank from February 23rd to March 4th, 2006, and found four major problems and many irregularities in the fund sales business:
There are irregularities in the publicity and promotion materials of individual branches of Bank of Nanjing: the sales staff of three branches (Sunshine Plaza Sub-branch, Jiangnan Building Sub-branch, Dachang Sub-branch) use materials that have not been filed with our bureau and marked with the words "half-year absolute income 13%"; Some sub-branches have produced and sent promotional messages of Xinyuan Fund to some customers who have not filed in our bureau, such as "Xinyuan's bond fund is on fire for half a year. From February, 20 14 to June, 20 15, the first phase of operation achieved an annualized income of 9%, and the new round continued its steady style, striving to improve the income and making a strong attack! The subscription and redemption can only be opened from June 2 to 10. If the quota is tight, an appointment is required. " Violation of the "Measures for the Administration of Sales of Securities Investment Funds" stipulates that "the fund publicity and promotion materials must be true and accurate, consistent with the fund contract and fund prospectus, and there must be no exaggerated or one-sided publicity of the fund, and illegal use of expressions such as safety, guarantee, commitment, insurance, hedging, safety, high yield and no risk may make investors think that there is no risk or unilaterally emphasize the centralized marketing period, and report them to China, the place of industrial and commercial registration, within 5 working days from the date of distribution or announcement to the public."
During the quarters ending 20 13 and 20 14, Bank of Nanjing did not complete the supervision and audit report on the fund sales business of the previous year.
Bank of Nanjing has two management systems on fund sales that have not been reported to Jiangsu Securities Regulatory Bureau: Management Measures for the Applicability of Bank of Nanjing Securities Investment Fund Sales issued on 201and Management Measures for the Evaluation of Cooperative Fund Managers of Bank of Nanjing issued on 20 13.
The implementation of Nanjing Bank's fund sales business norms is not in place: some branches missed the customer's signature on the "Nanjing Bank's fund consignment business transaction application form"; Individual personnel have not obtained the certificate of "Basic Knowledge Examination of Securities Market" when selling fund products; The information of sales fund products of individual branches is incomplete.
Jiangsu Securities Regulatory Bureau not only ordered Nanjing Bank to correct the above-mentioned violations, but also asked it to further enhance its awareness of compliance, strengthen compliance management of fund sales business, strengthen personnel qualification management, and strengthen internal audit to prevent the recurrence of violations.
Jurisdiction objection was rejected again.
On March 3 1, in response to the decision of Jiangsu Securities Regulatory Bureau to order rectification measures, Nanjing Bank replied to the rule of law weekend reporter: "We have received the decision on administrative supervision measures from Jiangsu Securities Regulatory Bureau. In response to the related problems such as the nonstandard fund publicity materials pointed out in the Decision, the Bank is making rectification as required. "
Just after investors waited for the conclusion of the investigation by the regulatory authorities and failed to negotiate with Nanjing Bank, some investors filed lawsuits in court one after another.
Nanjing citizen Menyue (a pseudonym) is one of the few investors who brought a lawsuit to the court. 2065438+At the beginning of June, 2005, Menyue purchased Xinyuan semi-annual fixed-term fund of1404,000 yuan under the condition that the financial manager of Nanjing Bank Nanhu Sub-branch guaranteed the income. When it was redeemed in the last half year, the loss was 65,438 yuan +0.8 million yuan.
Menyue sued Nanhu Sub-branch of Nanjing Bank in jianye district People's Court, demanding compensation for economic losses.
Nanhu Sub-branch of Nanjing Bank filed a jurisdictional objection to the court during the submission of the defense. On March 3 1, the jianye district People's Court held: "According to the provisions of the Fund Contract, the parties to the contract include the fund manager (Xinyuan Fund Management Company), the fund custodian (fund seller) and the fund share holder. The defendant Nanhu Sub-branch of Nanjing Bank, as the sales organization of Xinyuan Fund, is not a party to the fund contract. Therefore, the arbitration clause in the Fund Contract cannot be applied to the dispute between the plaintiff and the defendant, and it is not improper for our court to accept this case. " "Reject the objection of Nanhu Sub-branch of Nanjing Bank to the jurisdiction of this case."
On February 22nd, when Ji Moumou, a citizen of Nanjing, suffered economic losses from purchasing Xinyuan Fund and sued Guangzhou Road Sub-branch of Bank of Nanjing in Gulou District People's Court, the bank also raised a jurisdictional objection to the court, which was also rejected by the court (this newspaper reported on February 24th).
The rule of law weekend reporter noted that in these two cases, both branches of Nanjing Bank raised jurisdiction objections based on the blank fund contract signed with China Everbright Bank.
On March 3 1 day, the reporter asked if Nanjing Bank had signed a fund contract with investors. Why is the signature on the sample fund contract submitted to the court "China Everbright Bank" instead of "Nanjing Bank"?
Bank of Nanjing replied: "At present, the relevant matters have entered the judicial process, subject to the judgment of the judicial organs."
Agreements have been reached with some investors.
Nanjing Bank's lawsuit against investors, although in its reply to reporters, said, "specifically, the judgment of the judicial organs shall prevail".
However, according to the rule of law weekend reporter, Nanjing Bank has reached a settlement with at least two investors who filed lawsuits.
One of them is Aunt Gao from Nanjing, who was the first to sue in court. Aunt Gao once told the media that she bought Xinyuan Fund products of 1.85 million yuan at Yueyahu Sub-branch of Nanjing Bank, and the principal loss reached 250,000 yuan after the expiration. At that time, when the financial manager of the bank promoted the fund products to her, he not only promised 6% to 8% of the income, but also did not have any risk warning.
After the Qinhuai District Court of Nanjing accepted the case, the court session originally scheduled for 65438+10.7 could not be held as scheduled, and then the two sides reached a settlement and dropped the case.
There is also a Nanjing citizen Ji Moumou who settled with Nanjing Bank in the lawsuit. On February 28th, 20 15, 15 sued Guangzhou Road Sub-branch of Bank of Nanjing in Gulou District Court of Nanjing, demanding compensation for losses and interest for half a year.
Ji Moumou claimed that in February 2065438+2004, when the financial manager of Guangzhou Road Sub-branch of Bank of Nanjing recommended Xinyuan Fund to him, he verbally promised that the risk of this product was low, and the annualized income was guaranteed to be around 12%, and he would never buy or sell stocks. After that, I bought RMB 200,000 Yuan Xinyuan Fund (000896) and lost RMB 30,000 Yuan. He believes that the financial manager not only failed to give a risk warning to Xinyuan Fund when selling it, but also made false propaganda.
Bank of Nanjing Guangzhou Road Sub-branch filed a jurisdictional objection with the court. On February 22, the Gulou District Court ruled that it rejected its objection to the jurisdiction of this case.
On March 7th, Ji sent a message to the reporter, because "for various reasons, I dropped the lawsuit". Later, he told reporters that because Nanjing Bank found an acquaintance, it accepted the docking of 10% interest.
According to Xinyuan Fund investors, Nanjing Bank not only reached a settlement with some investors who filed lawsuits, but also directly claimed part of the losses from the bank, including all the principal and part of the interest.
The court's rejection of the objection to the jurisdiction of Nanjing Bank and its voluntary settlement, as well as the identification of the irregularities of Nanjing Bank by the Securities Regulatory Bureau, seem to have touched the truth of the Xinyuan Fund incident of Nanjing Bank. However, Menyue hopes that the doubts in their hearts can be answered in detail by the regulatory authorities, instead of general or vague answers. They are more concerned about how to recover the economic losses they have suffered.
It is understood that in 20 1 1 year, China Bank Shanghai Tianlin Road Sub-branch recommended a high-risk wealth management product just because it rated Hu Moumou, a Shanghai citizen with low risk tolerance, resulting in a loss of180,000 yuan for Hu Moumou. China Bank Shanghai Tianlin Road Sub-branch was awarded compensation for Hu's loss by Shanghai No.1 Intermediate People's Court.