China's National Financial Regulatory Administration (NFRA) issued revised Administrative Penalty Measures, updating how supervisory administrative penalties are decided and processed and expanding the scope of addressees from banking and insurance institutions to financial institutions more broadly. The revised measures comprise 10 chapters and 100 articles. Key changes include adding a requirement for collective decision-making by agency heads for major and complex cases, introducing procedures to suspend handling of penalty cases and to close cases, and clarifying jurisdictional allocation and external coordination mechanisms. They also refine investigation and evidence-gathering and the rights and remedies available to parties, including procedures for deciding not to impose a penalty and for execution, and strengthen end-to-end supervision and digitalisation through mechanisms to proactively correct erroneous penalty decisions or address situations where penalties are revoked, tracking and evaluation of penalties, and updated rules on electronic and public service. The revised measures take effect from 1 July 2025.
China Banking and Insurance Regulatory Commission 2025-04-30
China's National Financial Regulatory Administration revises administrative penalty rules extending enforcement procedures to all financial institutions
China's National Financial Regulatory Administration issued revised Administrative Penalty Measures, expanding the scope from banking and insurance to all financial institutions. Key updates include collective decision-making for complex cases, refined investigation procedures, and enhanced digital supervision. The measures, effective 1 July 2025, aim to improve penalty decision processes and external coordination.