Shanghai Securities News learned exclusively from relevant channels today that recently the Shanghai Banking and Insurance Regulatory Bureau launched a special action to clean up and standardize financial intermediation activities, aiming to further regulate and clean up the cooperation between banking and insurance institutions and various intermediaries within its jurisdiction, prevent the transmission of related risks to the banking insurance system, find and combat illegal intermediaries parasitic on the banking and insurance industry chain, and promote financial services to consumers.

It is reported that according to the requirements, the bank insurance institutions implement the investigation requirements from three aspects:

The first is to check the compliance of various cooperation businesses with intermediaries, mainly including marketing cooperation with non-licensed intermediaries. All banking and insurance institutions should focus on the compliance and risk points of various types of business involved in the cooperation process, so as to avoid the situation of intermediaries directly collecting funds from customers and risk underwriting of unqualified institutions.

The second is to investigate whether there are external intermediaries and bank insurance institutions to conduct private business cooperation. All banking and insurance institutions shall, through online and offline means, investigate employees' abnormal behaviors and have an in-depth understanding of private cooperation behaviors. They shall thoroughly check the discovered employee cooperation behaviors and reasons, the service content provided by the intermediary, the situation involved in the business, and whether there is any benefit transfer, and timely correct the violation problems and analyze possible risks and hidden dangers.

The third is to investigate illegal and illegal exhibition of intermediary institutions and intermediary financial activities. All banking and insurance institutions should fully mobilize front-line employees and grass-roots business outlets, and investigate the situation of illegal intermediaries using the name of the institution to market and carry out business through research and judgment of letters and complaints, strengthening public opinion monitoring and other means. At the same time, it will sort out the situation of unfair competition and illegal business exhibition related to intermediary activities that it has learned in the course of business development, including but not limited to extracting high intermediary fees, illegally absorbing public deposits, transferring loans for profit, illegal bridge financing, providing false investment, forging credit information, "surrendering insurance and black property", "hurting scalpers" and other acts or related clues that infringe on the rights and interests of financial consumers. To investigate and determine possible violations of laws and regulations and their impact on the organization.

According to the requirements, the banking and insurance institutions should enhance the awareness of risk prevention, strengthen the risk management of cooperation with intermediaries, and ensure and improve the standardization of cooperation with intermediaries. For the violations found in the investigation, draw a lesson from one example, find loopholes in the system process, and rectify them in time. Where employees are involved in private cooperation with intermediaries, they shall promptly deal with relevant problems, seriously hold the personnel involved accountable, establish a sound management system, and report to the Shanghai Banking and Insurance Regulatory Bureau in a timely manner.