On July 22, the official website of the Shanghai Supervision Bureau of the State Administration of Financial Supervision disclosed a number of fines against the Shanghai branch of the Industrial and Commercial Bank of China, with a total penalty of 13.9 million yuan.
One of the fines shows that the Shanghai branch of the Industrial and Commercial Bank of China was fined 10.5 million yuan by the Shanghai Supervision Bureau of the State Administration of Financial Supervision on July 10, and the main violations of laws and regulations include: the investment of wealth management funds in the risk management and control of structured bond business seriously violated the rules of prudent operation; Failure to fulfill prudent management responsibilities for the investment of wealth management funds; The accounting treatment does not truly reflect the financial status of the wealth management product; The approval conditions for the granting of fixed asset loans are not in place.
Source: Official website of the Shanghai Regulatory Bureau of the State Administration of Financial Regulation
Another fine shows that the Shanghai branch of the Industrial and Commercial Bank of China was fined 3.4 million yuan by the Shanghai Supervision Bureau of the State Administration of Financial Supervision on July 8, and the main violations of laws and regulations include: the management of working capital loans was seriously imprudent, and the loan funds eventually flowed into the capital market; The management of working capital loans is seriously imprudent, and the loan funds are eventually used to purchase wealth management; Loan fees; The quality and price do not match.
Source: Shanghai Regulatory Bureau, State Administration of Financial Regulation
At the same time, a number of relevant persons in charge of the Shanghai branch of the Industrial and Commercial Bank of China were fined.
Cao Qi, then vice president of ICBC Shanghai Branch, was directly responsible for the serious violation of prudential business rules by investing wealth management funds in structured bond business risk management and control of ICBC Shanghai Branch.
Li Zhaohui, then the general manager of the asset management department of ICBC Shanghai Branch, was directly responsible for the serious violation of prudential business rules in the risk management and control of ICBC Shanghai Branch's wealth management funds invested in structured bond business, and was warned and fined 50,000 yuan.
Li Dongyuan, then deputy general manager of the asset management department of ICBC Shanghai Branch, was directly responsible for the serious violation of prudential business rules in the risk management and control of ICBC Shanghai Branch's wealth management funds invested in structured bond business, and was warned and fined 50,000 yuan.
Liu Yaowu, then head of the Asset Management Department of ICBC Shanghai Branch, was directly responsible for the serious violation of prudential business rules by investing wealth management funds in structured bond business of ICBC Shanghai Branch, and was warned and fined 50,000 yuan.
Wang Wei, then deputy general manager of the corporate finance department of ICBC Shanghai Branch, was directly responsible for ICBC Shanghai Branch's loan charges, and was warned and fined 50,000 yuan.
Qin Guogang, then deputy general manager of the financial interbank department of the Shanghai branch of the Industrial and Commercial Bank of China, was directly responsible for the failure of the ICBC Shanghai branch to fulfill its prudent management responsibilities in the investment of wealth management funds, and was warned.
Xu Ying, then the general manager of the international business department of the Shanghai branch of the Industrial and Commercial Bank of China, was directly responsible for the illegal charges for the comprehensive international business services of the Shanghai branch of the Industrial and Commercial Bank of China, and was warned.
In addition, Lu Junxian, He Dongping, Huang Yuan and other account managers of ICBC's Shanghai sub-branch were warned and fined 50,000 yuan.
Since the beginning of this year, large fines have appeared frequently for banks' violations of laws and regulations, demonstrating that financial supervision is "long and thorny" and angular. Industry insiders said that the situation of strong supervision and strict supervision will be further continued and deepened, which is not only an important part of accelerating the construction of a financial power, but also an important measure to prevent and resolve financial risks.
Reviewer: Ye Siqi Editor: Wang Yin Proofreader: Zhang Diange Producer: Zhang Nan Issued: Peng Yong