Set access control, QQ, record check families account, China insurance regulatory Commission to regulate insurance company deals also spell it!
On December 15, the China insurance regulatory Commission released guidelines on internal control of insurance funds (referred to as guidelines), provisions for internal control of insurance investment to make more.
Recently, the motive of life life, Sunshine insurance and other insurance business placards in a row over more than 10 listed companies, and an "uproar". Sigh insurance companies in the market, "trenches" at the same time, more questioned said the move could lead to risks as a result of liquidity risk.
On December 11, the CIRC has issued a Declaration on strengthening of asset allocation matters related to the prudential supervision of insurance companies notice (short notice), are not in conformity with the relevant asset allocation risk liquidity risk insurance companies do troubleshooting,
Bursts of two articles in the China insurance regulatory Commission on 5th relating to risk capital investment, in the view of market participants, regulators or intended to tighten insurance enterprises to invest.
Judging from the file contents of the guidelines, focusing on specific areas of investment of insurance funds construction of internal control, including segregation of duties and authorization, investment research and decision-making, investment Executive, investment management and other key aspects of internal control standards and requirements, and investment in bank deposits, fixed-income investments, stocks and stock mutual funds investing in three main categories of assets key to the establishment of specific rules.
According to the latest data, outstanding funds reached 10,606,164,000,000 yuan in insurance industry. With bank deposits 2,418,910,000,000, 22.81% per cent bond 3,712,067,000,000, 35% per cent for all asset classes most; stocks and securities investment fund 1,486,368,000,000, 14.02% per cent; other investment (including real estate, derivatives etc) 2,988,819,000,000, 28.17% per cent.
It is worth mentioning that, the China insurance regulatory Commission has specified an existing regulation of stock investment, such as equities asset allocation in the field of risk, insider trading and transportation risks and other issues of interest. Shares referred to in guideline, refers to the insurance sector investment public offering and listing for trading of stocks and targeted non-public offering of shares of listed companies, stock funds is 80% per cent of the Fund's assets invested in stock funds.
Specifically, the guidelines on transactions made on several operational requirements, and strengthening supervision.
For example its provides insurance institutions in for stock and the stock type fund investment of implementation Shi, should established full of concentrated trading management system, strictly isolation investment decision and trading implementation; on concentrated trading room implemented access management, on trading room fixed phone, and network communications, implementation trading time within monitoring, on MSN, and QQ, and micro-letter, various rates communications tool and e-mail should implementation full monitoring and left marks, and retained above communications information and data five years above ; Stock investment with insurance agencies shall establish personnel and immediate family members of a stock account filing system, guard against operation risks and moral hazard.
More important is that the guidelines requiring insurance institutions to establish a monitoring and control mechanism on insider trading, tunneling and price manipulation and other violations to focus on monitoring revealed that the investment was a high percentage of shares of listed companies, trading price exception, frequent trades or the number of transactions is large, it shall provide for timely disclosure and reporting information. Why the first tier cities in place Kings the main
To prevent tunneling to guide insurance agencies are required under according to the nature of account, or a combination, is equipped with private equity investment manager, prevent acts such as the upper tray, reverse between accounts, and expressly waive the placing transaction approval authority mechanism.
In addition, compared with the relevant provisions and guidelines not only strengthened the supervision of internal control of the use of insurance funds, and insurance agencies to engage an independent third party audit organizations carry out special audit for internal control management of insurance funds.
The CIRC also said that the next step, in total, on the basis of the framework of the guidelines will be based on market and regulatory needs, have been issued for real estate, insurance, asset management, equity investments, foreign investments, derivatives and other investments supporting application guidelines, continuously enrich and improve the standards of internal control system and the utilization of insurance funds.
The guidelines will be officially implemented January 1, 2016.
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