Chi­nese Bank In­spec­tors Al­lowed to Col­lect Elec­tronic Data as Ev­i­dence for Ad­min­is­tra­tive Penal­ties

Chi­na’s fi­nan­cial reg­u­la­tors will sig­nif­i­cantly in­crease some of their in­ves­ti­ga­tory pow­ers start­ing from the month of Au­gust.

The “China Bank­ing and In­sur­ance Reg­u­la­tory Com­mis­sion Ad­min­is­tra­tive Penalty Mea­sures”  comes into ef­fect on 1 Au­gust, and out­lines an ex­pan­sion in the range of ma­te­r­ial that au­thor­i­ties can col­lect for use as ev­i­dence for ad­min­is­tra­tive penal­ties.

Ar­ti­cle 36 of the Mea­sures stip­u­lates that “in­vestors may di­rectly col­lect data from com­puter data­bases, and may also use meth­ods in­clud­ing trans­fer, cal­cu­la­tion and de­com­po­si­tion to form new elec­tronic data.”

The Mea­sures fur­ther stip­u­late that hear­ings ma­te­r­ial and elec­tronic data may both be used as ev­i­dence when mak­ing de­ci­sions con­cern­ing ad­min­is­tra­tive pun­ish­ments.

Un­der the new Mea­sures the par­ties men­tioned in ad­vance no­tices of ad­min­is­tra­tive pun­ish­ments will also have the right to de­mand that hear­ings be held.

On the same date the amended ver­sion of the “Im­ple­men­ta­tion By­laws for the Mea­sures on In­cen­tivis­ing the Re­port­ing of Il­le­gal and Ir­reg­u­lar Pay­ments and Set­tle­ment Con­duct”  will come into ef­fect.

The By­laws stip­u­late that any en­ti­ties or in­di­vid­u­als who re­port il­le­gal con­duct to the Pay­ment & Clear­ing As­so­ci­a­tion of China are en­ti­tled to the col­lec­tion of awards.

Posted by China Banking News