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 CSRC Issues Enforcement Rules for Administrative Fines and Confiscations
Category:Legislative Updates  
Keywords:administrative penalty;  enforcement rules;  fines and confiscations
Publish Date:09-14-2023
Recently, the China Securities Regulatory Commission (CSRC) issued the Rules for the Enforcement of Fines and Confiscations in Administrative Penalties.
First, the Rules set forth explicit requirements for strengthening the search and detection of property clues of parties involved during the investigation and trial of cases. Second, the Rules specify that, if a party fails to turn in fines or confiscated money in due time, the CSRC and its dispatched agencies may urge the payment and apply to people's courts for enforcement. Third, the Rules provide refined interpretation of the provision of the Law on Administrative Penalty which reads “Where the parties indeed have financial difficulties, a payment may be postponed or be made in installments.” Detailed rules are formulated with regards to scenarios for applying for postponement or installment, content of application materials, and review and approval procedures, thus enhancing the operability of enforcement. Fourth, the Rules provide concrete provisions for different circumstances based on specific deliberation conducted on the issues regarding the indefinite period for applying for compulsory enforcement.
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