The College of Comparative Law, the Law School of People's Public Security University of China, the Research Base for Corporate Compliance Inspection and the Law School of Capital Normal University co-hosted the Symposium on the Corporate Compliance and Administrative Supervision online on 11 Dec, 2022.
Hundreds of dignitaries from the country's administrative supervision departments, including the State-owned Assets Supervision and Administration Commission of the State Council, the Ministry of Commerce, the Ministry of Justice, the China Securities Regulatory Commission, the China Banking Regulatory Commission and the State Administration for Market Regulation, the Supreme People's Procuratorate, local people's procuratorates and well-known experts, scholars, lawyers and representatives of the business community were invited to discuss the corporate compliance and administrative supervision in order to promote the establishment of the country's corporate compliance-related system.
Vice President of the People's Public Security University of China Wang Yong, Director of the Administrative Committee of Fangda Partners Han Liang and Director of the Academic Committee of Peking University Law School Chen Ruihua presented remarks. Dean of the Law School of People's Public Security University of China Li Yuhua moderated the symposium.
Li Yuhua presided over the first session Joint Mechanism of Execution of Enterprise Compliance. Director of the Legal Policy Research Office the Supreme People's Procuratorate Gao Jingfeng, Director of the Legal Policy Research Office of the Nanjing People's Procuratorate Li Yong, Director of the Second Procuratorial Department of the Shenzhen People's Procuratorate Liu Shanquan, Deputy Director of the Fourth Procuratorial Department of the Zhangjiagang People's Procuratorate of Jiangsu Province Zheng Li and Prof. Li Fenfei from the Renmin University of China Law School delivered keynote speeches respectively.
Gao Jingfeng introduced the progress and achievement of the Supreme People's Procuratorate’s work in corporate compliance reform in his report the Basic Situation of the Compliance of the Enterprises Involved in Cases and Several Problems Needing Attention in the Linking Up of Administrative Law Enforcement and Criminal Justice. He also suggested that the establishment of a mechanism for mutual recognition of punishment results and the coordination of administrative law enforcement and criminal justice would be more conducive to the decriminalization and de-illegality of the enterprises involved in cases. Li Fenfei presented his report on How to Optimise the Connecting Mechanism of Administrative Law Enforcement and Criminal Justice of Corporate Compliance. Deputy Dean of the Central University of Finance and Economics Law School Li Wei, Partner of Fangda Partners Zhuang Yanjun and Lin Yanhua joined the discussion.
Dean of the College Xie Zhiyong moderated the second session the Role of Corporate Compliance in Administrative Supervision. Dean of the Graduate School of Party School of the Central Committee of C.P.C (National Academy of Governance) Zhou Youyong, Deputy Dean of the Peking University Law School Xue Jun, Director of the Department of Internet Supervision of State Administration for Market Regulation Miao Dan, General Manager of the Department of Internal Control and Compliance Management of the Head Office of Agricultural Bank of China Zheng Huazhen and Director of the Third Division of Department of Laws and Regulations of State-owned Assets Supervision and Administration Commission of the State Council Wang Chao delivered keynote speeches respectively.
In his report the Nature of Administrative Compliance and the Way to Achieve It, Zhou Youyong argued that the systematic construction of administrative compliance needs to follow the hierarchy of the compliance incentive mechanism and the differences in the regulatory field, following the sequence from flexible incentive to rigid incentive, from perfecting the basic system of compliance to amending the relevant legislation, so as to build the system of administrative compliance with Chinese characteristics, to promote the enhancement of the executive branch's ability to administer in accordance with the law. Deputy Director of the Bureau of Administrative Law Enforcement Coordination and Supervision of the Ministry of Justice Kong Xiangquan, Director of the Qingdao Securities Regulatory Bureau of the China Securities Regulatory Commission Yin Zhicheng and Dean of the Law School of Nankai University Song Hualin held talks with them.
Dean of the Department of Law of Capital Normal University Li Xin moderated the third session the Development and Application of Administrative Compliance Guidance. Chief expert at IC500, an international compliance think tank, Wang Yaping, former Deputy Director (bureau level) of the Regulation Department of the China Banking Regulatory Commission Wang Kejin, Deputy Director of the Commercial Legal Service Center of China Council for the Promotion of International Trade & Deputy Director-General of the National Corporate Compliance Commission and member of its Committee of Expert Zhang Shun, Deputy Director of the Industrial Competitiveness Division of Industrial Safety and Import and Export Control Bureau of Ministry of Commerce Yu Ying and Researcher of the China Institute of Standardisation Du Xiaoyan delivered keynote speeches respectively. Deputy General Manager of the Deposit Insurance Fund Management Company of People's Bank of China Zhang Shaohua, Director of the Medical Department of Peking University School and Hospital of Stomatology Shi Zudong and Lecturer at the Law School of People's Public Security University of China Shi Xiaoxue participated in the discussion.
Partner of the Fangda Partners Yin Yunxia hosted the fourth session the Incentive Mechanism for Administrative Compliance. Deputy Director of the Regulation Department of the State Administration for Market Regulation Ren Duanping, Professor Peng Bing form the Peking University Law School, Professor Xiao Jiangping from the Peking University Law School, , Deputy Director of the Legal Department of National Medical Products Administration Liu Jihong and Partner of the Fangda Partners Kang Yingjie delivered keynote speeches respectively.
In his report on the Carrot and Stick -- Promoting the Establishment of a Compliance System for Enterprises, Peng Bing said that in corporate governance, especially in the case of listed companies, it is important to grasp the key minority of management to achieve enterprise compliance governance. Legal Director of the Alibaba Group Zhu Jian, General Counsel and Head of the Legal Department of Beijing Yiqing Holdings Limited Pan Jia and Professor Deng Yong from the School of Humanities of Beijing University of Chinese Medicine held the talks.
Dean Xie Zhiyong and Li Xin, head of the Capital Normal University law department, gave concluding remarks.
Xie Zhiyong summed up the consensus reached by scholars and experts at the seminar that 1) corporate compliance should be introduced into administrative supervision as soon as possible; 2) efforts should be step up to promote the convergence of executions; 3) the problem of inversion of criminal liability and administrative punishment liability of enterprise compliance should be solved as soon as possible; 4) corporate compliance is a reflection of the transformation of administrative supervision to a responsive and cooperative model; 5) the administrative compliance of different types of enterprises should be gradually promoted due to the particularity of the management structure of platform enterprises; 6) for the financial enterprises, central enterprises and platform enterprises and other large enterprises, building a regular regulatory mechanism is a focus of future work; 7) it is worth paying attention to and popularizing such innovative supervision ideas and practices as double-base management, clean compliance and policy compliance; and 8) state-owned enterprises in the enterprise administration compliance has taken an important step and it is worth learning from other industries.
Li Xin presented his remarks from three aspects, the formulation of the responsibility functions of different subjects in the compliance mechanism, the definition of "rules" in corporate compliance and the construction of corporate compliance system. He proposed that the goal of compliance is to promote the formation of hierarchical governance and multi-dimensional cooperative governance system.
