On December 28, experts and well-known lawyers from the fields of Finance and law in Shanghai gathered at the China financial information center by the Huangpu River for a heated discussion.
The first stage of "Oriental lecture hall on the rule of law" kicked off here with the theme of "construction of enterprise compliance system in key industries in the new era". Participants believed that compliance could help financial institutions win the "marathon", and financial compliance should pay attention to the implementation of the "principle of prudence".
The forum was sponsored by the Financial Law Research Society of Shanghai law society, Shanghai Lawyers Association (trust business research committee and Banking Business Research Committee), Shanghai Securities News, China Financial Information Center, Shanghai oil and gas trading center and Shanghai Energy Research Society, with special support from Shanghai Financial Industry Federation and Shanghai enterprise compliance research center, Undertaken by Shanghai jintiancheng law firm.
"At present, with the application of new technologies, the emergence of scientific and technological financial platforms and the rise of digital finance, the financial industry is undergoing drastic changes under the action of internal and external tension. With cross-border capital flows, the compliance supervision of the financial industry has gone beyond geographical borders. The development of China's financial industry is facing an unprecedented complex environment, and the financial legal service market is also full of opportunities and challenges War. " Gu Gongyun, director of Shanghai jintiancheng law firm, said in his speech.
Gu Gongyun said that the 10th meeting of the central financial and Economic Commission held in August 2021 proposed to coordinate the prevention and resolution of major financial risks. In particular, it is emphasized that we should "follow the principle of marketization and legalization" to do a good job in risk management. From the perspective of regulators, the principle suggests that they should avoid relying too much on administrative means in risk disposal; From the perspective of institutions, this principle directly points out that financial institutions should carry forward the spirit of contract, strengthen the awareness of the rule of law, and pay attention to compliance, social responsibility and sustainable development.
Gu Gongyun said that the compliance management and systematic construction of financial institutions need professional lawyers serving the financial industry to escort the compliant operation of financial institutions based on an international perspective and an in-depth understanding and overall grasp of the regulatory policies, laws and regulations of the financial regulatory authorities. In addition, lawyers should also pay attention to adapting to the new situation when providing compliance services. The supervision ideas and policies of the financial industry are constantly adjusted and developed, the relevant financial legal system and judgment rules have changed greatly, and there are many regulations, normative documents and judicial interpretations of the Supreme Court. Lawyers serving the financial industry must keep up with the pace of change.
According to Shuai Shi, Executive Deputy Secretary General of Shanghai Federation of financial industries, banks and other financial institutions compete for a "marathon" rather than a "100 meter sprint", especially focusing on the construction of long-term compliance concept and compliance management system. Shuai Shi said that the financial industry should establish a complete financial prevention and control system, including many systems of compliance management. The compliance culture should "enter the brain, heart and ear", so as to avoid major potential risks in the future. At the same time, the compliance work of financial institutions should also focus on introducing new digital concepts with the help of digital technology.
Xiong chenyao, President of Shanghai enterprise compliance research center, said that compliance is very important for all kinds of financial institutions and enterprises, and even very simple compliance actions can not be ignored. Xiong chenyao said, for example, previously, some well-known enterprises in Shanghai took a notice from the world bank as a promotional advertisement, and even took the qualifications of their brother units to participate in bidding. These behaviors were identified as non-compliance by the world bank, so that they paid a corresponding price.
At the specific operation level of compliance, Wu Hong, President of the Financial Law Research Society of Shanghai law society, said that compliance should pay attention to the implementation of the "principle of prudence". Compliance should follow the upper limit, minimize risk exposure and fully accrue the accrued. "The specific operation of compliance should be carried out in a tight way, not in a loose way. Although the cost may be reduced temporarily, the probability of risk will rise in the future."
(Shanghai Securities News)
