For the illegal use of promotional materials, the China Securities Regulatory Commission or the local securities regulatory bureau will take the following administrative supervision or administrative punishment measures according to law:

(1) Prompt the fund management company or fund agency to make corrections.

(2) Issue a regulatory warning letter to the fund management company or fund agency.

(3) For a fund management company or fund agency that has been issued with a supervision warning letter twice in a row within six months and has not been corrected, the company or fund agency shall submit the materials to the China Securities Regulatory Commission in advance before distributing or publishing the fund publicity materials. The fund publicity and promotion materials can be used only after 10 days from the date of submission to the China Securities Regulatory Commission; In the above period, if the China Securities Regulatory Commission finds that the fund recommendation materials are not in conformity with the relevant provisions, it may timely notify the company or institution to make amendments. The materials shall not be used by companies or institutions without modification.

(4) Ordering the fund management company or fund agency to rectify, suspend relevant business, and initiate an investigation.

(5) Take administrative supervision measures such as supervision talks, issuing warning letters, recording them in integrity files, suspending the performance of duties, and determining that they are not suitable for the relevant positions, or suggest the company or institution to dismiss the relevant senior managers.