The Beijing News Shell Financial News (Reporter Huang Xinyu) The Central Financial Work Conference pointed out that the prevention and control of risks should be the eternal theme of financial work, and the focus should be on comprehensively strengthening supervision, preventing and defusing risks, and firmly holding the bottom line of no systemic risks. The Corporate Governance Supervision Department of the State Financial Supervision Administration (the "General Financial Supervision Administration") said in a column on January 9 that it would take strengthening corporate governance supervision as the starting point and show new achievements in "doing a good job in risk isolation between industry and finance" and "preventing and resolving the unique risks of insurance groups".
Official website, the General Administration of Financial Supervision, showed that after the announcement of the "three-set" plan, the main responsibility of the Corporate Governance Division at present is to formulate a corporate governance supervision system; Carry out equity management and corporate governance supervision, undertake off-site monitoring, risk analysis and regulatory evaluation of financial holding companies, insurance groups and other institutions, conduct on-site investigations according to the needs of risk supervision, take regulatory measures, and carry out case risk disposal.
In terms of "doing a good job in risk isolation between industry and finance", the Corporate Governance Department of the General Administration of Financial Supervision put forward that financial holding companies will be urged to strengthen the construction of "firewalls" between financial enterprises and non-financial enterprises, and between financial institutions, adhere to the principle that "managing the law is more important than managing the illegality" and "managing the industry must manage the risks", and strengthen supervision coordination with other financial management departments, industry authorities and local party committees and governments to prevent the disorderly expansion of industrial capital in the financial field.
In terms of "preventing and resolving the unique risks of insurance groups", the Corporate Governance Department of the General Administration of Financial Supervision will also urge insurance groups to strengthen the asset-liability matching management of the main insurance business, avoid blind and radical expansion of the business side, and prevent key business risks such as spread loss and credit insurance. At the same time, on-site assessment of solvency risk management ability of insurance groups is carried out regularly, and capital constraints are effectively strengthened. Strengthen the management orientation focusing on the main business, and strengthen the management of non-insurance subsidiaries and major equity investments. Strengthen the group’s risk management and control, and check the problems through the special audit of risk contagion to prevent internal risk contagion.
In addition, it is noteworthy that in the column, the General Administration of Financial Supervision has made it clear that it will strengthen the institutional supervision of insurance groups and financial holding companies. Study and establish an off-site supervision framework for financial groups with similar or unified rules, and strengthen the qualification requirements for shareholders and directors. Clarify the functional orientation of financial holding companies and strictly manage the access of financial holding companies.
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