(Law Evening News reporter Li Hongpeng editor Xiong Yingqi) On May 5, the China Securities Regulatory Commission and China Insurance Regulatory Commission released heavy news: China Insurance Regulatory Commission (CIRC) issued a circular that some products of AnBao Life Insurance to circumvent the relevant regulatory requirements, disrupt market order and prohibit new applications within three months The SFC informed the afternoon, the Commission recently Founder Securities and other four cases of administrative penalties, the case mainly involved in the controlling shareholder of listed companies, major shareholders did not disclose the related party relationship, related party transactions and other illegal acts, the total amount of the fine of four cases 1113 Million.

View Offense Bureau (WeChat ID: guanhaijieju) Reporter combing found that two weeks ago, the Commission just top grid punishment "inner ghost" Feng Xiao tree 25100000000 yuan, and on the 2nd of this month, the Commission again heavy hand punishment capital market illegal manipulation of the market In response to Zhu Kangjun's manipulation of the stocks of "Tieling New City" and "Zhongxing Commercial", it confiscated about 268.7 million yuan of illegal gains and imposed a fine of about 268.7 million yuan.

In response, "People's Daily Central Kitchen" has commented that "the financial anti-corruption storms in 2017 are already getting worse." The frequent appearance of regulators may only be the beginning. The foreseeable future is that the anti-corruption profile will become clearer ".

CIRC: Ampang banned new products within three months

On the morning of May 5, the CIRC issued a circular stating that Ampang Life Insurance should rectify its product development and management work. Some products of Anbang Life Insurance circumvent the relevant regulatory requirements and disrupt the market order. Three months to prohibit the declaration of new products.

It is understood that, recently, the China Insurance Regulatory Commission will receive Anbang Insurance Company submitted the "Anbang longevity to enjoy the 5th Annuity Insurance" and other product filing materials. The verification found that "Anbang longevity to enjoy the 5th annuity insurance" product design deviates from the source of insurance, survivors return the design form, a large number of consumers will pay a premium back quickly, the long-term annuity insurance "long-term short to do," the actual Into two-year business, to evade the relevant regulatory requirements for products with short duration in the China Insurance Regulatory Commission, disrupting the market order. At the same time, "Ampang e win both insurance (universal type)" product filing materials in short and medium duration product board resolution no chief actuary signed, does not meet the "China Insurance Regulatory Commission on the standard short duration of life insurance products Notice of Matters "(Baojianfa [2016] No. 22).

In response to the fact that Anbang Insurance Company did not strictly fulfill the main responsibility for product development and management, breach of the rules and avoid regulatory requirements, the CIRC shall not record the aforesaid products. Ampang should immediately stop using the above products. For insured customers, customer service should be done and other follow-up work. And within three months, prohibit the declaration of new products.

SFC: Four "Founder" companies were punished on the top grid

In the morning, the CIRC just finished heavy news. In the afternoon, the SFC cast another stone for the calm lake in the financial circle. CSRC press conference briefing, the Commission recently Founder Securities and other four cases of administrative penalties, the case mainly involved in the controlling shareholder of listed companies, major shareholders did not disclose the related party relationship, related party transactions and other illegal acts, the total amount of fines for a total of 11.13 million cases yuan.

The Securities and Futures Commission notified that the listed companies involved in the four cases were China Tech, Founder Technology, Founder Securities and Peking University Pharma. The investigation and handling of the four cases by the CSRC completely covered illegal and illegal behaviors such as the failure to disclose the connected relationship, connected transactions and the disclosure of changes in shareholding according to law. According to the law, the CSRC decided to impose a fine of 600,000 yuan on top of the information disclosure obligors of the four companies involved in the case and imposed a fine of 300,000 yuan on top of the persons directly in charge. The two natural persons involved in the case were banned for life in the market.

Within half a month the SFC fined over one billion yuan

In addition to the Founder Securities punishment, the view of the sea clever Bureau (WeChat ID: guanhaijieju) reporter noted that just half a month, the SFC has at least three top grid punishment, the other two are Zhu Kangjun stock manipulation and Feng Xiaoshu case.

According to Xinhua News Agency on May 3, it was ascertained that Zhu Kangjun controlled 49 accounts of 42 people such as Chen Mouming in his two stocks of "Tieling New City" and "ZTE Commercial", concentrating capital advantage and holding advantage , Traded on a continuous basis and traded between accounts under their control, affecting the transaction price and trading volume of the two stocks, respectively, gaining approximately 179.7 million yuan and 88.02 million yuan respectively. In response to Zhu Kangjun's manipulation of "ZTE Commercial" shares in "Tieling New City", CSRC announced the decision of administrative punishment, confiscated about 261.88 million yuan of the illegal proceeds of Zhu Kangjun and imposed a fine of about 267.8 million yuan.

For Feng Xiaoshu case, on April 21, Zhang Xiaojun, a spokesman of the CSRC, introduced Feng Xiao-shu, who joined the proposed company in the name of her mother-in-law and her spouse's sister, and sold the shares for huge profits after the listing of the listed companies. The accumulated transaction value reached 2.51 100 million yuan, the amount of profits reached 248 million yuan. Feng Xiaoshu was sentenced to confiscation of illegal income of 248 million yuan, and imposed a fine of 251 million yuan at the top grid, a total of 499 million yuan. At the same time, the SFC to Feng Xiaoshu life-ban on the market measures taken.

View Offense Bureau (WeChat ID: guanhaijieju) Reporter combing found that just half a month, only two of Zhu Kangjun and Feng Xiaoshu, the total amount of confiscation and fines have more than 1 billion yuan.

At least 4 people were punished by "life-long securities market forbidden" this year

This afternoon, the SFC press conference informed Founder Securities Li You punishment decision. The Commission said Founder Securities illegal circumstances are serious, the direct responsible person in charge Li You and others, respectively, top 300,000 yuan fine. Li You involved in multiple cases at the same time, severely punished, life-long market ban. The same "fallen" occurred two weeks ago in Feng Xiaoshu.

Li You Li You
On May 22, 2015, China Securities Regulatory Commission announced the revision of the Provisions on Prohibition of Stock Market. It explicitly imposed a life-time market-forbidden measure on those who concealed the formation of five important facts in order to deter the market and eliminate the order.

I. Engaged in the securities business such as sponsorship, underwriting, asset management, margin financing and securities lending and other securities services business, deliberately failing to perform the statutory obligations and causing particularly serious consequences.

Second, for counterfeiting and manipulation and other acts, the provisions of a clear for the adoption of concealment and fabrication of important facts and other particularly harsh methods, or the amount involved in a particularly large amount.

Third, engaged in fraud, insider trading and manipulation of the market and other illegal acts, seriously disrupting the securities and futures market order and cause serious social impact, or obtain unlawful gains and other undue benefits amount is particularly huge, or cause particularly serious damage to the interests of investors.

Fourth, in the securities regulatory law enforcement encountered illegal workers obstruct and resist law enforcement issues, if the parties serious violations of the law, should be taken to the market forbidden measures; if there is deliberately issued false evidence, to hide or damage important evidence such as obstruction, resistance Securities regulatory agencies and their staff to exercise supervision and inspection, investigation of authority.

In five or five years, the CSRC shall be given an administrative penalty other than a warning three times or more, or within five years the securities market has been banned.

According to the media public report, a total of 18 people have been punished "market forbidden" from the first year of 2017, including at least 4 people including Li You, "life banned securities market". The remaining three are Guo Congjun, Feng Xiaoshu and fresh words.

According to the SFC official website, Zhejiang Goodwill Office Services Group Co., Ltd. inflated the service fee income in 2013-2015 by more than 260 million yuan, inflating the trading income in 2015 by more than 570,000 yuan and the fictitious bank deposit by 300 million yuan. To cover up the funding gap, borrow money to buy wealth management products or certificates of deposit, and pledged collateral for the borrower's affiliate immediately. Through these various harsh measures, the Nine Good Group packaged itself into a "good" asset valued at 3.71 billion yuan and jointly conducted "Huyou style" restructuring with Anshan Heavy Mining Machinery Co., Ltd. in order to achieve the purpose of restructuring and listing. Guo Congjun, the actual controller of the Nine Good Group, was therefore banned for life in April this year.

From January 2014 to June 2015, Sham Control used a total of 28 HOMS trading units with "Liu Moujie", "Shamou", "Xia Moumei" securities accounts and 14 trust accounts. With a centralized capital advantage, Holding the superiority of information, continuous trading of information superiority, transactions between the securities accounts actually controlled by them, false declaration and other means, affected the trading price and trading volume of the shares of Shanghai Duolun Industrial Co., Ltd. with a total of about RMB578,330,000 illegal gains; From January 17, 2014 to April 3, 2015, the shareholding ratio of "Duolun" held by the account group changed more than 5% twice on both occasions. As the obligor of information disclosure, Xianrui did not fulfill the information disclosure in accordance with relevant regulations obligation. Based on this, the SFC in March to take the life threatening market forbidden measures.

Financial anti-corruption into the deep water

On April 9 this year, Premier Li Keqiang pointed out in his speech at the Fifth State Council Working Conference on Clean and Honest Administration that the crackdown on illegal credit granting by banks, insider trading in securities markets and the transfer of interests, and the collection of fees by insurance companies, etc., severely punished individual regulators And company executives guarding theft and collusion with financial predators inside and outside the illegal acts, must be severely punished in accordance with the law, in order to pay special effects.

In fact, the speech took place on March 21, but was not released until April 9, and its timing was intriguing. On the 9 April, the Chairman of CIRC, Xiang Junbo, the former party secretary and president of the Export-Import Bank of China Beijing Branch, Li Changjun, both accepted the organization for being seriously disciplined, survey. Some media also found that the CBRC Chairman Assistant Yang Jiacai April 10 has no longer in charge of the specific work of the relevant departments of the China Banking Regulatory Commission, also do not go to work in the office of the China Banking Regulatory Commission, most likely have been taken away to help the discipline inspection department investigation.

Anti-corruption expert Li Yongzhong, former vice president of China Institute of Discipline Inspection, said recently that according to the anti-corruption experience of the past four years, financial anti-corruption has entered the deep-water sector with the trend of deep development and signals.

Recently, the Commission crackdown manipulated the capital market without any hesitation. Since the beginning of this year, the China Securities Regulatory Commission has notified at least 50 cases of violation of laws and regulations, announced 35 decisions on administrative punishment and 10 decisions on the prohibition of market entry. The object of punishment illegal acts include insider trading, manipulation of the market, illegal trading of stocks.

According to China Securities Times Securities Times's statistics, only the first four months of this year, the Commission issued at least 31 tickets, involving penalties over 5.472 billion yuan, more than last year's total penalties of 4.283 billion yuan.


As for the CBRC, it is noteworthy that on the first day of March 29, 2017, the CBRC made 25 administrative penalties with a total fine of 42.9 million yuan. April 10, the China Banking Regulatory Commission caught catcher cat ", Ping An Bank and Huaxia Bank" glorious list ", huge ticket reproduction. Among them, due to the fact of involving five non-genuine transfer of credit assets, the CBRC imposed a fine of RMB16.7 million on Ping An Bank while Huaxia Bank was fined a total of RMB11.9 million for 24 non-compliance violations.

CIRC is also hands-on. February 24, February 25, the China Insurance Regulatory Commission for two consecutive days of life before the sea, Evergreen Life, respectively, to make the relevant persons responsible for banning the insurance industry for 10 years and 5 years of administrative penalties. The penalties imposed on "unruly" insurers also reflect the regulatory guidance that runs counter to the word.

People's Daily Central Kitchen commented that behind these fists and punish tickets, it is precisely the financial chaos that has accumulated in recent years and the potential risks that can not be ignored. It not only damages the rights and interests of financial consumers and investors, but also leads to the de-bankning of funds Void and asset bubbles, has come to the time. Regulators frequent moves may be just the beginning, the foreseeable future, the contours of the financial anti-corruption will become increasingly clear.