China Banking and Insurance Regulatory Commission: strengthening the review requirements of fund sources for shareholders of trust companies

category:Finance
 China Banking and Insurance Regulatory Commission: strengthening the review requirements of fund sources for shareholders of trust companies


In terms of guiding the transformation and development of trust companies, the first step of the measures is to encourage trust companies to carry out their original business, adjust the access conditions for the qualification of trust agencies for specific purposes of trust companies, and appropriately relax the requirements for the operation period and regulatory rating of trust companies. The second is to guide the trust companies to strengthen the concept of compliance management, and add the qualification conditions and licensing procedures of compliance director of trust companies. The third is to optimize the corporate governance mechanism of trust companies, strengthen the supervision of independent directors, and improve the independence of independent directors in performing their duties. It is clearly required that the accumulated time of independent directors in the same trust company shall not exceed 6 years. In the next step, the CBRC will continue to guide the trust companies to strengthen the trustee positioning, strive to explore transformation, adhere to the return to the origin, give full play to the institutional advantages, and improve the quality and efficiency of serving the real economy. Source: Securities daily.com Author: Zhang Xin, editor in charge: Zhong Qiming_ NF5619

In terms of guiding the transformation and development of trust companies, the first step of the measures is to encourage trust companies to carry out their original business, adjust the access conditions for the qualification of trust agencies for specific purposes of trust companies, and appropriately relax the requirements for the operation period and regulatory rating of trust companies. The second is to guide the trust companies to strengthen the concept of compliance management, and add the qualification conditions and licensing procedures of compliance director of trust companies. The third is to optimize the corporate governance mechanism of trust companies, strengthen the supervision of independent directors, and improve the independence of independent directors in performing their duties. It is clearly required that the accumulated time of independent directors in the same trust company shall not exceed 6 years.

In the next step, the CBRC will continue to guide the trust companies to strengthen the trustee positioning, strive to explore transformation, adhere to the return to the origin, give full play to the institutional advantages, and improve the quality and efficiency of serving the real economy.