金融违法行为处罚办法 Measure for Punishing Illegal Banking Activities

ness and carry out rectification and the senior management employees directly responsible shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal; if the criminal offence of illegally taking in deposits from the public, the criminal offence of issuing shares or corporate bonds without authorization or another criminal offence is constituted, criminal liability shall be investigated according to law.

　　Article 28 Trust and investment companies may not take in deposits from or grant loans to the public in the name of conducting entrustment or trust business, and may not violate provisions of the State in conducting entrustment or trust business.

　　A trust and investment company that inviolate the provisions of the preceding paragraph shall be given a warning and its illegal income shall be confiscated; in addition, it shall be subjected to a fine of not less than 1 time but not more than 5 times the illegal income or, if there is no illegal income, a fine of not less than 100,000 yuan but not more than 500,000 yuan; the senior management employees of the trust and investment company directly responsible, other persons in charge who are directly responsible and other directly responsible persons shall be subjected to disciplinary sanctions ranging from recording of a major demerit to dismissal; if the circumstances are serious, the said business shall be temporarily suspended or terminated, and the senior management employees directly responsible shall be subjected to disciplinary sanctions ranging from removal from their posts to dismissal; if the criminal offence of illegally taking in deposits from the public, the crime of fraudulent raising of funds or another criminal offence is constituted, criminal liability shall be investigated according to law.

　　Article 29 The fines paid by, and the illegal income confiscated from, a banking institution shall not be itemized under the costs and expenses of the banking institution.

　　Article 30 These Measures are applicable to the punishment of illegal banking acts undertaken by institutions engaging in banking business under the People's Bank of China.

　　Article 31 These Measures are not applicable to the punishment of illegal securities acts, which shall be punished according to the provisions of the relevant laws or administrative regulat

ions of the State on the administration of securities.

　　These Measures are not applicable to the punishment of the illegal insurance acts, which shall be punished according to the relevant laws or administrative regulations of the State on the administration of insurance.

　　Article 32 These Measures take effect from the date of promulgation.

　　Attachment: The Relevant Provisions in the Criminal Law

　　Article 159 Any sponsor or shareholder of a company who, in violation of the provisions of the Company Law, makes a false capital contribution by failing to pay the promised cash or tangible assets or to transfer property rights, or surreptitiously withdraws the contributed capital after the incorporation of the company shall, if the amount involved is huge and the consequences are serious, or if there are other serious circumstances, be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also, or shall only, be fined not less than two percent but not more than ten percent of the false capital contribution or of the amount of the capital contribution surreptitiously withdrawn.

　　Where a unit commits the crime as mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

　　Article 161 Where a company submits to shareholders and the general public false financial and accounting reports, or reports concealing important facts, thus causing serious harm to the interests of shareholders or others, the persons who are directly in charge and other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined not less than 20,000 yuan but not more than 200,000 yuan.

　　Article 167 If a person who is directly in chare of a State-owned company, enterprise or institution, when signing or fulfilling a contract, is defrauded due to serious neglect of responsibility and thus causes heavy losses to the interests of the State, he shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention; if especially heavy losses are caused to the interests of the State, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years.

　　Article 176 Whoever illegally takes in deposits from the general public or does so in disguised form, thus disrupting the financial order, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined not less than 20,000 yuan but not more than 200,000 yuan; if the amount involved is huge, or if there are other serous circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan.

　　Where a unit commits the crime as mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding paragraph.

　　Article 179 Whoever issues stocks or corporate or enterprise bonds without approval of the competent departments of the State shall, if the amount involved is huge, and the consequences are serious, or if there are other serious circumstances, be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also, or shall only, be fined not less than one percent but not more than five percent of the funds illegally raised.

　　Where a unit commits the crime mentioned in the preceding paragraph, it shall be fined,

and the persons who are directly in charge and other persons who are directly responsible for the crime shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

　　Article 186 Any employee of a bank or of any other banking institution who, against laws or administrative rules and regulations, grants fiduciary loans or guaranteed loans to his connections on conditions that are more preferential than those for granting the same type of loans to other borrowers, thus causing relatively heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined not less than 10,000 yuan but not more than 100,000 yuan ; if heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan.

　　Any employee of a bank or of any other banking institution who, against laws or administrative rules and regulations, grants loans to persons other than his connections, thus causing heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined not less than 10,000 yuan but not more than 100,000 yuan; if especially heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan.

　　Where a unit commits any of the crimes mentioned in the preceding two paragraphs, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding two paragraphs respectively.

　　The range of connections shall be determined in accordance with the provisions in the Law of the People's Republic of China on Commercial Banks and the relevant regulations on banking.

　　Article 187 Any employee of a bank or of any other banking institution who, for the purpose of making profits, illegally lends the funds he absorbed from the clients instead of entering them into the account book, or uses the funds as loans, thus causing heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if especially heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan.

　　Where a unit commits any of the crimes mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and the other persons who are directly responsible for the crime shall be punished according to the provisions in the preceding paragraph.

　　Article 188 Any employee of a bank or of any other banking institution who, against regulations, issues letters of credit or other letters of guaranty, negotiable instruments, deposit certificates or certificates of financial standing, thus causing relatively heavy losses, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; if heavy losses are caused, he shall be sentenced to fixed-term imprisonment of not less than five years.

　　Where a unit commits any of the crimes mentioned i

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