Zhejiang Lin'an Rural Commercial Bank was fined 1.6 million yuan. What's going on?

Zhejiang Lin'an Rural Commercial Bank was fined 1.6 million yuan

On August 18, the Zhejiang Banking and Insurance Regulatory Bureau released administrative penalty information, saying that Zhejiang Lin'an Rural Commercial Bank was responsible for careless loan management. , misappropriation of capital market loan funds? and many other issues, the company was fined 1.6 million yuan by the Zhejiang Banking and Insurance Regulatory Bureau.

Specifically, most of the illegal facts of Lin’an Rural Commercial Bank in Zhejiang Province are related to careless loan management. This mainly includes imprudent loan management, with loan funds being misappropriated in the capital market; imprudent loan management, with working capital loans being diverted for investment arbitrage; imprudent loan management, with working capital loans being diverted into time deposits and bank acceptance bills; imprudent loan management. Prudence, shareholder loans were misappropriated to related small loan companies.

In addition, banks still suffer from inadequate employee management and control, as well as employee misconduct.

Article 46 of the "Banking Supervision Law of the People's Republic of China and the People's Republic of China" stipulates that if a banking financial institution has any of the following circumstances, the banking regulatory agency of the State Council shall order it to make corrections and impose a fine A fine of not less than 200,000 yuan but not more than 500,000 yuan; if the circumstances are particularly serious or if corrections are made within the time limit, the company may be ordered to suspend business for rectification or the business license may be revoked; if a crime is constituted, criminal liability shall be pursued in accordance with the law: (1) Appointment of directors or senior managers without qualification examination (2) Refusing or obstructing off-site supervision or on-site inspection; (3) Providing statements, reports and other documents and materials that are false or concealing important facts; (4) Failure to disclose information in accordance with regulations; (5) Seriously Violating prudent business rules; (6) Refusing to implement the measures stipulated in Article 37 of this Law.

It also stipulates that the directly responsible directors and senior managers shall be disqualified from holding positions for a certain period up to a lifetime, and the directly responsible directors, senior managers and other directly responsible personnel shall be prohibited from engaging in banking work for a certain period up to a lifetime .

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