Lates News

On September 12, the China Banking and Insurance Regulatory Commission announced the administrative penalties imposed on several financial institutions, such as Guangfa Bank, Construction Bank, China Merchants Bank, and China Exim Bank. The individuals involved have been prohibited from engaging in relevant work or fined. It is worth noting that this is the second batch of penalties announced by the CBIRC since September, involving issues such as credit approval, regulatory information reporting, and operational risks. According to statistics, the two batches of penalties announced by the CBIRC since September have involved a total of 18 parties (17 institutional penalties and 1 individual penalty), with a total fine amounting to approximately 2.69 billion yuan. (Jiemian News)