Four departments’ Implementation Opinions aim to tighten regulatory
effectiveness: strengthen fit‑and‑proper vetting for directors and senior
managers, prevent personnel with prior violations from circulating within the
financial sector, and increase inspections. The document orders harsh penalties
for illegal conduct by financial institutions, shareholders, actual controllers,
directors, senior managers and practitioners — specifically illegal use of
funds, unauthorized financing or guarantees, and improper asset transfers — and
requires immediate referral of suspected intermediary violations (eg, by
accounting firms) to industry regulators. It mandates lifetime accountability
for major breaches in accordance with law, directs state‑owned financial
institutions to establish coordinated oversight systems led by Party supervision
alongside investor, audit and employee oversight, and calls for strengthened
oversight of regulators and tighter supervision‑and‑accountability mechanisms.
