Beijing Business Daily News (Reporter Li Haiyan) more than 67 million yuan fine uncovered Ping an Bank (000001) wealth management business and other problems. RecentlyVideopokerhighlimitAccording to the open form of administrative penalty information released by the State Financial Supervision and Administration, due to a number of problems, such as the use of valet financial funds for the bank's own business, Ping an Bank was confiscated its illegal income and fined a total of 6723.Videopokerhighlimit.980,000 yuan. Among them, the head office 6073Videopokerhighlimit.98 million yuan, branch office 6.5 million yuan.
Specifically, in terms of wealth management business, Ping an Bank has violated regulations to provide financing to wealth management products, fictional risk slow-release products, uncalculated risk-weighted assets, valet wealth management funds for the bank's own business, mutual trading of wealth management products, non-compliance in the disclosure of financial products information, Financial management investment "famous stock real debt" assets are not included in the investment statistics of non-standard debt assets, structural deposit business is essentially a "false structure" and other illegal facts. In addition, in corporate governance and internal control, credit business, interbank business and itsVideopokerhighlimitOn his side, Ping an Bank also has violations of laws and regulations.
According to Ping an Bank's response, the relevant illegal facts were found during the inspection of the original Banking Insurance Regulatory Commission in 2019 that the rectification and reform work has been completed. However, the relevant behavior still exposed the problems that banks had in carrying out the relevant business.
Since the formal implementation of the "New regulations on Asset Management" in 2022, financial products have entered a period of net worth in an all-round way, the supervision has increased the punishment for the violations of financial management business, and the details of the penalty have become more prominent and clear, and the punishment has been implemented to specific matters and specific responsible persons.
On May 19, a reporter from the Beijing Business Daily combed and found that according to the date of disclosure of the ticket, except Ping an Bank, since the beginning of this year There are more than 10 banks, including Industrial and Commercial Bank of Xinjiang Uygur Autonomous region Branch, Postal savings Bank Manzhouli Customs Road Business Office, CITIC Bank (601998) Yancheng Branch, Pudong Development Bank (600000) Urumqi Branch, Zhejiang Merchant Bank Taizhou Branch, Taizhou Bank, Hankou Bank, Hangzhou Bank (600926), Urumqi Bank, Zhejiang Haiyan Agricultural Bank, Huihua Financial Management, etc. Financial management companies were regulated and punished for violations in financial management business. The main problems include the source and use of financial funds, irregular financial disclosure, non-standard sales and so on.
For example, Hankou Bank received a fine of 4.85 million yuan for indirect investment in the bank's credit assets. Taizhou Bank did not really rectify due to the lack of exclusive management of wealth management business; it withdrew floating management fees out of account and adjusted the rate of return of some wealth management products through compensation operations; risk isolation was not in place, floating management fees and financial funds mixed with investment were fined 3.85 million yuan. Huihua Financial Management was ordered to correct and fined 500000 yuan for submitting false application materials for job qualifications. Citic Bank Yancheng Branch was fined 1.6 million yuan for financial management and irregular sales of trust products.
"in recent years, the trend of continuous strengthening of financial supervision is obvious, and specialization continues to improve, with more emphasis on systematic overall management of 'one game of chess', continuous compression of institutional arbitrage space, and increasingly detailed supervision work. fully grasp the details of specific business violations, and review and correct past violations." Jinle function analyst Liao Hekai believes that financial management business violations are mainly related to interests, such as in order to complete the business as soon as possible, banks do not audit or relax the examination of the sources of funds for wealth management business, do not use according to the agreed use, misappropriate funds, evade supervision, and so on.
According to the Bank of China (601988) Business Finance Market Annual report (2023), by the end of 2023, the existing scale of the bank wealth management market is 26.8 trillion yuan. Among them, the financial management company is the largest, accounting for 22.47 trillion yuan, accounting for 83.85% of the whole market.
With regard to the follow-up regulatory trend of financial management business and how to comply with the development of regulations, Liao Hekai said that in recent years, the purpose of regulatory punishment is to standardize the operation of financial management business, and banks and financial companies should check and fill gaps in time to avoid industry risks. strictly prevent the occurrence of systemic risks. If the financial management business is carried out in strict accordance with regulatory guidelines, business processes and contractual agreements, compliance is not a problem.
Pan Helin, a well-known economist, believes that the follow-up supervision will be more stringent and will increase the supervision and punishment of financial management business. At the same time, we may also consider establishing a financial consumer protection mechanism, such as opening up consumer information disclosure and complaint channels, improving the joint and several compensation mechanism for financial companies to investors, and so on.