Industry News | Beijing Municipal Bureau of Financial Supervision issued the "Implementation Measures for Administrative Licensing of Local Financial Organizations in Beijing"

In order to implement the requirements of the "Regulations on the Supervision and Administration of Local Financial Services in Beijing" (hereinafter referred to as the "Regulations"), strengthen the supervision and management of local financial organizations, clarify the matters, conditions and procedures for the implementation of administrative licenses to local financial organizations, and protect the legitimate rights and interests of applicants for administrative licenses, On August 12, 2022, the Beijing Municipal Local Financial Supervision and Administration Bureau issued the "Implementation Measures for the Administrative Licensing of Local Financial Organizations in Beijing" (hereinafter referred to as the "Licensing Measures"). The "Licensing Measures" is a normative document supporting the "Regulations". Its issuance and implementation are conducive to promoting the administrative licensing work of local financial organizations in this city to be more standardized, convenient and efficient, and further improving the supervision efficiency of local financial organizations.

The "Measures" are divided into nine chapters and 87 articles, respectively stipulating small loan companies, financing guarantee companies, pawn shops, financial leasing companies, commercial factoring companies, and trading venues in "7+4" local financial organizations. As well as specific matters, conditions and procedures for the establishment, modification and termination of the regional equity market (ie, the fourth board market).

The Beijing Municipal Bureau of Financial Supervision stated that the release of the "Measures" will mainly reflect the value from three aspects: First, clarify the administrative licensing matters, in accordance with the requirements of the "Beijing Local Financial Supervision and Administration Regulations" and the actual work of Beijing, clarify the local financial organization. Approval and filing matters; secondly, the requirements for administrative licensing are refined, the minimum registered capital and actual payment requirements for local financial organizations are specified, and the qualifications for shareholders of local financial organizations are detailed; the third is to standardize the administrative licensing procedures and provide for the establishment of local financial organizations. Approval, change approval, termination of approval and other administrative licensing items must be approved by the Beijing Municipal Financial Supervision Bureau to obtain the corresponding administrative license.