musicalbingonearme| Central Bank: These actions are expected to be severely punished

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Source: China Economic Weekly

On May 23, the people's Bank of China issued a circular on the interim provisions of the people's Bank of China on the discretionary basis for Administrative punishment (draft for soliciting opinions) (hereinafter referred to as "discretionary benchmark") for public consultation.

There are 26 articles in four chapters, which specify the definition, division and application of administrative penalty discretion basis. The main contents are as follows:

Make clear the meaning of the discretion basis of administrative punishment, and strictly apply the requirements. According to the Administrative punishment Law and the relevant requirements of the State Council, the discretion benchmark of administrative punishment is defined as the specific law enforcement standards and standards formed by the refinement and quantification of the principled provisions in laws, administrative regulations and rules or the law enforcement authority and discretion with certain flexibility.

Refine the order of discretion and the applicable situation. The "discretion benchmark" defines the basic connotation of no punishment, mitigated punishment, lighter punishment, general punishment and heavier punishment, and in accordance with the principle of general equal distribution, the range of punishment corresponding to lighter punishment, general punishment and heavier punishment is divided. At the same time, in accordance with the provisions and authorization of the Administrative punishment Law, and combined with the actual work of the people's Bank of China, the specific circumstances for the application of mitigated punishment, lighter punishment and heavier punishment are stipulated.

A party shall be given a heavier punishment according to law under any of the following circumstances:

(1) where an illegal act causes serious consequences or has an adverse social impactMusicalbingonearme

(2) where the illegal act lasts a long time, occurs frequently, involves a large amount of money, accounts for a large proportion of illegal business, has a large number of victims, or has other abominable circumstances

(3) failing to cooperate with the law enforcement activities of the people's Bank of China or its branches, or concealing or destroying evidence of illegal acts

(4) committing the same illegal act again within 5 years after being subject to administrative punishment by the people's Bank of China or its branches

(5) retaliating against whistleblowers, witnesses or staff of the people's Bank of China or its branches

(6) conforming to the situation of heavier punishment stipulated in Article 49 of the Administrative punishment Law of the people's Republic of China

(7) other cases of abominable nature or causing serious influence.

Standardize the application of the discretion basis of administrative punishment. Six categories and more than ten kinds of factors are clearly defined as the factors that should be comprehensively considered when applying the discretion standard of administrative punishment, so as to promote "the same case and the same punishment". At the same time, the calculation standard of illegal income is refined.

We will improve the guarantee mechanism for the application of the discretionary basis for administrative penalties. On the one hand, according to the "opinions of the General Office of the State Council on further standardizing the formulation and management of the benchmark of administrative discretion" (No. 27 issued by the State Office (2022)), it is clear that the application of the "discretion benchmark" may be obviously inappropriate or unfair, or if the objective situation of the application of the benchmark of punishment discretion changes, it may be adjusted and applied after fulfilling the necessary procedures. On the other hand, the whole system is required to strengthen the supervision over the implementation of the discretion benchmark of administrative punishment through the inspection of administrative law enforcement and the evaluation of administrative law enforcement files.