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Guiding Opinions of the General Office of the China Banking and Insurance Regulatory Commission on Strengthening the Building of a Permanent Mechanism for the Compliance Management of Overseas Institutions of Chinese-funded Commercial Banks [Effective]
中国银保监会办公厅关于加强中资商业银行境外机构合规管理长效机制建设的指导意见 [现行有效]
【法宝引证码】

Guiding Opinions of the General Office of the China Banking and Insurance Regulatory Commission on Strengthening the Building of a Permanent Mechanism for the Compliance Management of Overseas Institutions of Chinese-funded Commercial Banks 

中国银保监会办公厅关于加强中资商业银行境外机构合规管理长效机制建设的指导意见

(No. 13 [2019] of the General Office of the China Banking and Insurance Regulatory Commission) (银保监办发〔2019〕13号)

All local offices of the China Banking and Insurance Regulatory Commission ("CBIRC"); and all large-scale banks and joint-stock banks: 各银保监局,各大型银行、股份制银行:
For the purposes of promoting Chinese-funded commercial banks that have profit-oriented institutions overseas (hereinafter referred to as the "Chinese-funded commercial banks") in further optimizing their group compliance management systems, improving the cross-border compliance management mechanism, heightening the effectiveness of cross-border compliance management, and achieving the safe and robust operation of overseas institutions, the following opinions are hereby offered: 为推动在境外设有经营性机构的中资商业银行(以下简称中资商业银行)进一步优化集团合规管理体系,健全跨境合规管理机制,提高跨境合规管理有效性,实现境外机构安全稳健运行,现提出以下意见:
I. General requirements   一、总体要求
1. Work objectives (一)工作目标
Chinese-funded commercial banks shall resolutely establish a concept that compliance creates values and guarantees development, benchmark against compliance regulatory standards, introduce best practices in the industry, boost the all-around and in-depth optimization and reform of intrinsic compliance management systems, processes and implementation, and develop a unified at the group level, comprehensive and effective cross-border compliance management system, so as to effectively protect the safety of overseas financial assets and enhance core competitiveness. 中资商业银行应当牢固树立合规创造价值、合规保障发展的理念,对标合规监管标准,引入同业最佳实践,推动内部合规管理制度、流程及执行落地的全方位、深层次优化变革,打造集团统一、全面有效的跨境合规管理体系,有效维护境外金融资产安全,提升核心竞争力。
2. Basic principles (二)基本原则
Combining rules-based constraints with cultural cultivation: A compliance management system shall be established and improved, the focus shall be on fixing the weakness in compliance management, the compliance culture shall be regarded as an important part of corporate culture construction, employees' compliance awareness and behavioral awareness shall be continually improved, and the minimum requirements for operations in compliance with the laws and regulations shall be strictly observed. 制度约束与文化培育相结合。建立健全合规管理体系,着力补齐合规管理短板,将合规文化作为企业文化建设的重要内容,不断提升员工的合规意识和行为自觉,严守依法合规经营底线。
Combining appropriateness and practicality: The level of building and management of overseas institutions' compliance mechanisms shall match overseas development strategies, scale of operations and business complexity, and relevant rules and processes shall be regularly assessed and updated in due course, so as to ensure effectiveness and operability. 适当性和实操性相结合。境外机构合规机制建设和管理水平应与境外发展战略、经营规模和业务复杂程度相匹配,并应定期评估和适时更新相关制度和流程,确保实效性与可操作性。
Integrating intrinsic driving factors with extrinsic supervision: With a focus on long-term development, intrinsic governance, resource guarantees, and incentives and constraints shall be enhanced. Regulatory communication shall be voluntarily strengthened, and regulatory requirements shall be embedded in in-house management, so as to improve the effectiveness of compliance management. 内生驱动和外部监督相统一。着眼长远发展,强化内部治理、资源保障和激励约束。主动加强监管沟通,将监管要求内化于自身管理,提升合规管理有效性。
Integrating the leadership of the head offices with the practice of overseas institutions: The groups' compliance responsibility, management and control, performance of duties and guarantee mechanisms shall be improved, the head offices' guidance on, support for, and management and control of compliance management by overseas institutions shall be strengthened, and that overseas institutions regard safety, quality and robustness as their primary business objectives shall be ensured. 总部引领和境外机构践行相统一。完善集团合规责任、管控、履职和保障机制,加强总部对境外机构合规管理的指导、支持和管控力度,确保境外机构将安全、质量、稳健作为首要经营目标。
II. Improving compliance responsibility mechanisms   二、健全合规责任机制
3. Specifying the responsibilities of the principal responsible persons at each level. The board of directors shall deliberate, approve and supervise the development and implementation of the group's compliance policies and be ultimately answerable for the compliance of business activities. The board of supervisors shall be responsible for supervising the performance of duties of compliance management by the board of directors and the senior management. The senior management shall effectively manage compliance risks, develop and implement compliance policies, specify the organizational structure for compliance management, identify major compliance risks, and review and approve compliance risk management plans. The principal person in charge of the head offices shall be primarily responsible for the group's compliance management. The principal persons in charge of all business lines and overseas institutions shall be primarily responsible for the group's compliance management of their respective business lines and overseas institutions. (三)明确各层级主要负责人的责任。董事会应审议批准和监督集团合规政策的制定和实施,对经营活动的合规性负最终责任。监事会应对董事会和高级管理层合规管理职责的履职情况负监督责任。高级管理层应有效管理合规风险,制定和执行合规政策,明确合规管理组织架构,识别主要合规风险,审核批准合规风险管理计划。总部主要负责人应承担集团合规管理的首要责任。各业务条线和境外机构主要负责人应承担本条线和本机构合规经营的首要责任。
4. Specifying the responsibilities of all the departments of the head offices for the management and supervision of the lines. Head offices shall designate relevant management departments or set up a special team to take the lead in being responsible for the compliance management of overseas institutions and arranging in an overall manner for all business line management departments to increase their efforts to provide compliance training and guidance for overseas institutions. All business line management departments shall be primarily responsible for the compliant operations of their respective lines and conduct inspections on overseas institutions in accordance with relevant authority. In-house audit departments shall be responsible for audit evaluation of the appropriateness and effectiveness of overseas compliance management. (四)明确总部各部门条线管理和监督责任。总部应指定相关管理部门或设立专门团队牵头负责境外机构合规管理,统筹协调各业务条线管理部门加大对境外机构的合规培训、指导力度。各业务条线管理部门承担本条线合规经营的主要管理责任,按照有关权限对境外机构开展检查。内部审计部门应承担境外合规管理适当性和有效性的审计评价责任。
5. Implementing the responsibility for corrective action. Head offices shall start with the compliance problems discovered in the regulatory inspections of overseas institutions, third-party assessments, the intrinsic and extrinsic audits of head offices and overseas organizations, or the like, review the defects and weakness in the group's compliance framework, strengthen the top-level design, adhere to seeking both temporary and permanent solutions and drawing inferences, and in light of regulatory standards and the best practices in the industry, be responsible for developing a systemic corrective action plan and improving the permanent mechanism for compliance management. All business lines and overseas institutions shall organically combine compliant operations with problem correction and effectively be responsible for implementing the corrective action as to specific problems. (五)落实整改责任。总部应从境外机构监管检查或第三方评估、总部和境外机构内部和外部审计等发现的合规问题入手,审视集团合规框架的缺陷与不足,加强顶层设计,坚持标本兼治、举一反三,结合监管标准和同业最佳实践,承担起制定系统性整改计划和完善合规管理长效机制的责任。各业务条线和境外机构要把合规经营和问题整改有机结合起来,有效承担具体问题的整改落实责任。
6. Strictly enforcing accountability for violation of regulations. Head offices shall guide overseas institutions in speeding up the development and improvement of measures for processing and enforcing accountability for violation of regulations and specify the bases, standards and process of accountability, Head offices shall adhere to the principle of "exemption from liability for due diligence and accountability for negligence of duties" and determine the liability of person responsible for compliance risk events. In the case of negligence of duties or violation of laws and regulations, the head offices shall strictly pursue corresponding liability, increase the efforts to enforce corresponding accountability and give notification, and strengthen the warning and deterrence effects. (六)严格违规问责。总部应指导境外机构加快制定完善违规问责处理办法,明确问责依据、标准和流程。坚持“尽职免责、失职问责”原则,对合规风险事件责任人进行责任认定。对于存在失职渎职或违法违规的,要严格追究相应责任,加大问责和通报力度,强化警示震慑作用。
III. Optimizing compliance management and control mechanisms   三、优化合规管控机制
7. Dynamically optimizing overseas development strategies. Head offices shall, in light of country environment, economic conditions, financial regulation and other factors, continually monitor the development status of overseas institutions, identify, assess and tackle various risks in a prudential and forward-looking manner, optimize overseas development strategies in due course, and strengthen the feasibility research on and ex-ante review of entry into new markets or business fields, so as to ensure that management capabilities match the internationalization process. (七)动态优化境外发展战略。总部应结合国别环境、经济状况、金融监管等因素,持续监控境外机构发展状况,前瞻审慎地识别、评估和应对各类风险,适时优化境外发展战略,并加强对进入新市场或新业务领域的可行性研究和事前审查,确保管理能力与国际化进程相匹配。
8. Improving compliance rules and processes. Head offices and overseas institutions shall fully understand the laws, regulations and regulatory requirements of host countries (regions), conscientiously reorganize, update and optimize the rules in anti-money laundering efforts, anti- financing of terrorism efforts, anti-tax evasion efforts, sanctions compliance, consumer protection, cybersecurity, outsourcing management, environmental and social risk management, and other key fields, specify operational processes and key control points, strengthen the overall management of financial crime prevention, and achieve full coverage of compliance management in business fields and operational processes. (八)健全合规制度流程。总部及境外机构应充分了解东道国(地区)法律法规和监管要求,认真梳理、更新和优化反洗钱、反恐怖融资、反逃税、制裁合规、消费者保护、网络安全、外包管理、环境与社会风险管理等重点领域的制度,明确操作流程和关键控制点,加强对金融犯罪防范的统筹管理,实现合规管理对业务领域、操作流程的全覆盖。
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