Bank of China responded with a fine of 50.5 million yuan: Deep reflection, what was their specific mistake this time?

First of all, let's review the whole story of this incident. In the first half of 2020, influenced by COVID-19, the global economy stagnated, and various industries were also impacted to varying degrees, and domestic and foreign commodity markets and futures markets were strongly impacted. On April 20th, China Bank's futures products were not insured, and all customers who bought Yu 'ebao products suffered heavy losses according to the international crude oil settlement price. Someone joked that he invested in a bicycle and lost a Rolls Royce. Although this is a joke, it is enough to prove that the impact of the incident of crude oil treasure passing through the warehouse is very huge. Now, because of this incident, China Bank was fined 50.5 million yuan, which I deeply reflect on. I think the main problems of Bank of China in this incident are as follows:

First, there are problems in product design and management. First of all, there are problems in product design and management. Mainly manifested in the trading details of crude oil products after they were put on the shelves, such as unclear margin terms, but the most important thing is that banks did not conduct stress tests on this futures product in advance. You know, futures trading is risky. If you don't test the risks in advance, you can't guarantee the interests of yourself and your customers. Therefore, the primary problem of China Bank is product design and management.

The second is the problem of internal control management mode of banks. Bank is a kind of enterprise with strict hierarchy and obvious class. But it also leads to low communication efficiency between the upper and lower levels of banks, which may lead to communication failure, which may lead to. There is a lack of coordination between superiors and subordinates, and decision-making is out of line. This is also one of the important reasons for the crude oil warehouse breaking event.

Third, the sales channels and management methods of futures The third most important reason is that there are problems in the sales channels and management methods of futures. Futures itself is a high-risk trading product. In this incident, Bank of China did not impose strict restrictions on its customers and sales channels. Moreover, some marketing methods exaggerate the facts, which leads to high customer expectations, which is also one of the important reasons for the China Bank crude oil treasure incident.