China Banking and Insurance Regulatory Commission: Authorize the adjustment of some administrative licensing and reporting matters supervision levels.

On November 5th, the website of the China Banking and Insurance Regulatory Commission announced that in order to further optimize the classification and authorization of administrative licensing matters, fully leverage the advantages of on-site supervision of financial regulatory bureaus, and promote the continuous consolidation of the "strong supervision" synergy of the four-level vertical management system of the China Banking and Insurance Regulatory Commission, the China Banking and Insurance Regulatory Commission drafted and released the "Notice on Adjusting the Authorization of Some Administrative Licensing and Reporting Matters to Lower Levels of Supervision". The Notice specifies that financial regulatory bureaus may, based on actual jurisdictional conditions and ensuring the quality and efficiency of regulatory work, delegate some administrative licensing and reporting matters to financial regulatory bureaus. Specifically, financial regulatory bureaus may, based on actual jurisdictional conditions and after thorough evaluation, delegate the management level of two administrative licensing matters, namely the change of names of branches of Chinese commercial banks and the change of business premises of branches of insurance companies, and four categories of reporting matters related to changes and appointments of personnel in branches of Chinese commercial banks, rural small and medium banks, insurance company branches, and insurance agency institutions, to financial regulatory bureaus. After taking on the relevant administrative licensing and reporting matters, financial regulatory bureaus will also be responsible for issuing and managing corresponding licenses. The China Banking and Insurance Regulatory Commission stated that it will continue to monitor the operation of the decentralization of powers and make dynamic adjustments to ensure that the quality and efficiency of services to banking and insurance institutions are not reduced, and to continuously improve the standardization and effectiveness of market access work.