Regulations of Inner Mongolia Autonomous Region on Local Financial Supervision and Administration

Chapter I General Provisions Article 1 In order to strengthen the supervision and management of local finance, effectively prevent and deal with local financial risks, guide local finance to serve the real economy with high quality, and promote the sustained and healthy economic and social development of the autonomous region, these regulations are formulated in accordance with the provisions of relevant state laws and regulations and the actual situation of the autonomous region. Article 2 These Regulations shall apply to the supervision and administration of local financial activities within the administrative area of the autonomous region.

The local financial organizations mentioned in these Regulations include small loan companies, financing guarantee companies, pawn shops, financial leasing companies, commercial factoring companies, local asset management companies, regional equity markets, and other organizations with financial attributes and their branches authorized by laws, administrative regulations and the State Council to supervise and manage local people's governments.

If the state has other provisions on local financial supervision and management, those provisions shall prevail.

Measures for the supervision and administration of various local trading places shall be formulated separately by the people's government of the autonomous region. Article 3 Local financial supervision and management shall follow the principles of safety, prudence, standardization, high efficiency and innovative development, and promote the virtuous circle and healthy development of finance and economy. Article 4 The People's Government of the Autonomous Region shall, under the guidance and supervision of the the State Council Financial Stability and Development Committee, strengthen the organization and leadership of local financial work, establish and improve the deliberation and coordination mechanism of local financial work, improve the local financial supervision and management system, perform the duties of local financial supervision and management according to law, coordinate major issues of local financial reform, development and stability, and coordinate and solve major issues such as local financial supervision and management, financial risk prevention and disposal.

The deliberation and coordination institutions of the people's government of the autonomous region shall strengthen cooperation with the local coordination institutions of the the State Council Financial Stability and Development Committee Office in financial supervision and management, risk disposal, information sharing and consumer rights protection.

The administrative office of the Union, the municipal people's government divided into districts and the people's government at the county level shall, in accordance with the principle of territorial management and graded responsibility, strengthen the organization and leadership of local financial work within their respective administrative areas, and undertake the tasks of preventing and handling territorial financial risks and promoting and developing local finance. Article 5 The local financial supervision and administration department of the people's government of the autonomous region is responsible for supervising and managing local financial institutions and their activities within the administrative region of the autonomous region, organizing, coordinating and guiding the prevention and disposal of local financial risks, and promoting and developing local finance.

The administrative office of the Union, the municipal people's government divided into districts and the local financial institutions of the people's government at the county level (hereinafter referred to as local financial institutions) are responsible for the supervision and management of local financial institutions and their activities, the prevention and disposal of local financial risks and other related work within their respective administrative areas.

Market supervision and management, network security and information management, communication management, public security, development and reform, finance, industry and informatization, supervision and management of state-owned assets, auditing, civil affairs, housing and urban and rural construction, natural resources, agriculture and animal husbandry, commerce and other departments shall, according to their respective responsibilities, do a good job in related work. Article 6 Trade organizations established by local financial institutions according to law shall formulate and implement trade norms and professional ethics standards, improve the self-discipline management and restraint mechanism of the industry, and safeguard the legitimate rights and interests of members according to law. Article 7 People's governments at or above the county level and their relevant departments shall publicize and popularize financial laws and regulations and knowledge of financial risk prevention through various forms, encourage and support the media such as radio, television, newspapers and the Internet to strengthen public welfare propaganda and public opinion supervision, and improve the public's financial knowledge level and risk prevention awareness. Article 8 When conducting local financial supervision and management, risk prevention and disposal, relevant departments and their staff shall not disclose confidential information such as state secrets, business secrets and personal privacy that they know in their work. Article 9 Any unit or individual has the right to make complaints and reports on acts violating the provisions of these Regulations, illegal financial activities and local financial activities that have formed or may cause major financial risks.

The local financial supervision and management departments and local financial institutions of the People's Government of the Autonomous Region shall establish and improve the complaint handling mechanism, announce the acceptance methods, and timely verify the handling of complaints and reports. Chapter II Business Norms Article 10 The establishment, merger, division, determination of business scope and region, reduction of registered capital, etc. of a company. Local financial institutions shall obtain corresponding administrative licenses in accordance with the law, or obtain pilot qualifications in accordance with the relevant provisions of the state and autonomous regions.

No unit or individual may engage in or engage in local financial activities in disguised form without permission or without obtaining pilot qualification, and may not use words related to local finance such as "small loan", "financing guarantee", "pawn", "financial leasing", "commercial factoring" and "asset management" in its name and business scope. Eleventh local financial institutions to change the following matters, should be within thirty days from the date of change, to the local financial supervision and management department of the people's Government of the autonomous region for the record:

(a) change the name;

(2) Changing the shareholders who hold more than 5% of the shares;

(3) Changing the legal representative, directors, supervisors and senior managers;

(4) increasing the registered capital;

(5) Changing the domicile or business premises within the licensed or approved business area;

(six) other matters that should be filed according to law.