The Measures for the Administration of Related Transactions of Banks and Insurance Institutions adhere to the problem orientation, make up for the system defects, help standardize the supervision of related transactions of banks and insurance institutions, improve the management level of related transactions of banks and insurance institutions, better prevent and resolve financial risks, and maintain a fair and just financial market order.
Summarized as follows:
1, layer-by-layer infiltration supervision explicitly prohibits clauses.
The first problem of better managing related party transactions is to identify related parties. In this regard, the "Measures" adopt a combination of direct identification and substance over form identification, reasonably define the scope of related parties, and identify related parties layer by layer.
2. Coordinate and standardize supervision and highlight differentiated supervision.
The Measures cover all kinds of banking and insurance institutions supervised by the CBRC, and accurately and effectively supervise related transactions of different types of institutions.
3. The main responsibility of the compaction mechanism is to improve the management level.
The Measures compacted the main responsibilities of institutions in related party transaction management, established a hierarchical accountability mechanism, strengthened the functions of the related party transaction control committee, set up an inter-departmental related party transaction management office at the management level, defined the lead department, set up special posts, and implemented the identification of related parties and the daily management of related party transactions.