Notice of the Ministry of Finance and China Securities Regulatory Commission on Issues Concerning the Strengthening of Subsequent Administration of Securities Appraisal Institutions

财政部、证监会关于加强证券评估机构后续管理有关问题的通知

 

Promulgating Institution: Ministry of Finance; China Securities Regulatory Commission

Document Number: Cai Qi [2009] No. 235

Promulgating Date: 11/06/2009

Effective Date: 11/06/2009

颁布机关: 财政部; 中国证券监督管理委员会

文      号: 财企[2009]235号

颁布时间: 11/06/2009

实施时间: 11/06/2009

 

To the finance departments (bureaus) of all the provinces, autonomous regions and municipalities directly under the Central Government, and the regulatory bureaus of China Securities Regulatory Commission in all the provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the State plan: 

In order to strengthen the dynamic administration of asset appraisal institutions with securities and futures related business appraisal qualifications (hereinafter referred to as Securities Appraisal Institutions), issues relating to the subsequent administration of Securities Appraisal Institutions are hereby notified as follows in accordance with the relevant provisions of the Notice of the Ministry of Finance and China Securities Regulatory Commission on Issues Concerning the Administration of Asset Appraisal Institutions Engaging in the Business Relating to Securities and Futures (Cai Qi [2008] No. 81):

    各省、自治区、直辖市财政厅(局),证监会各省、自治区、直辖市、计划单列市监管局:

    为加强具备证券期货相关业务评估资格的资产评估机构(以下简称证券评估机构)的动态管理,根据《财政部证监会关于从事证券期货相关业务的资产评估机构有关管理问题的通知》(财企[2008]81号)有关规定,现对证券评估机构有关后续管理问题通知如下:

1. Issues relating to the administration of annual filing of Securities Appraisal Institutions

(1) Annual filing is an important part of the dynamic administration of Securities Appraisal Institutions and all the Securities Appraisal Institutions shall establish sound filing administration system and assign dedicated staff to take charge of the system. 

(2) A Securities Appraiser shall engage an accounting firm that is not related to it and has securities qualification to audit the annual financial and accounting reports. The audit reports shall disclose the income from appraisal business and income from securities business and non-securities business, the key composition of all the payables and receivables, the shareholders' loans and the withdrawal and use of the professional risk fund. 

(3) The business and income listed in the preceding year's appraised business and income summary in the annual filing shall be calculated in accordance with the provisions of Article 2 of this Notice. 

(4) A Securities Appraiser shall perform industry and social responsibilities and shall truthfully complete the Form of the Performance of Industry and Social Responsibilities (Appendix 1).

(5) A Securities Appraiser shall submit the written materials and electronic text of the annual filing to the Ministry of Finance, China Securities Regulatory Commission (CSRC) and China Appraisal Society respectively. The Ministry of Finance, CSRC and China Appraisal Society will publicize the important content in the annual filing materials of the Securities Appraiser that involves the conditions prescribed by the document Cai Qi [2008] No. 81. 

The Ministry of Finance, CSRC and China Appraisal Society will circulate notices of criticism on Securities Appraisals that do not submit the filings according to the prescribed time and content.

       一、关于证券评估机构年度备案管理问题

    (一)年度报备是证券评估机构动态管理的一项重要内容,各证券评估机构应当建立健全相关备案管理制度,并指派专门人员负责。

    (二)证券评估机构应当委托与本机构不存在关联关系且具有证券资格的会计师事务所审计年度财务会计报告。审计报告应当披露评估业务收入金额以及其中证券业务和非证券业务的收入金额、各类应收应付款主要构成、股东借款情况、职业风险基金提取和使用情况。

    (三)年度报备的上年度评估业务和收入汇总表,所列业务和收入应当按照本通知第二条的规定进行统计。

    (四)证券评估机构应当履行行业和社会责任,并据实填报履行行业和社会责任情况表(附件1)。

    (五)证券评估机构将年度报备书面材料和电子文本分别报送财政部、证监会和中国资产评估协会。对证券评估机构年度备案材料中涉及财企[2008]81号文件规定条件的主要内容,财政部、证监会、中国资产评估协会将向社会公示。

    未按规定时间、内容进行报备的证券评估机构,财政部、证监会、中国资产评估协会将予以通报批评。

2. Issues relating to the calculation of income from appraisal business

(1) The income from the appraisal business of a Securities Appraiser shall be differentiated between "income from appraisal business directly entrusted" and "income from appraisal business not directly entrusted". In the administration of securities appraisal qualification, the "appraisal business income of not less than RMB5 million every year and not less than RMB20 million in total for the past three years" as prescribed in item 7 of paragraph (2) of Article 1 of the document Cai Qi [2008] No. 81 shall mean the "income from appraisal business directly entrusted" audited and verified according to accounting principles not changed by the Securities Appraiser. The accounting and administration of "income from appraisal business not directly entrusted" shall be conducted in accordance with the original provisions but the income shall not be calculated. 

(2) If a Securities Appraiser has accepted the entrustment of a user of appraisal (consultation) reports and entered into a business agreement, performed the relevant procedures prescribed by the appraisal standard, prepared the appraisal draft, issued an invoice to the entrusting party and acquired the right to receive payment, and one of the following situations apply, the income will be calculated as "income from appraisal business directly entrusted": 

1. The entrusting party has been issued an appraisal report on the value of a single asset or the overall assets of the enterprise; 

2. The entrusting party has been issued written appraisal and consultation opinions based on the judgment of the value of a single asset or the overall assets of the enterprise;

3. If the appraisal report or the appraisal and consultation opinions have not been issued as a result of the termination of the appraisal project due to reasons of the entrusting party, the agreement on the termination of the appraisal project or supporting documents on the termination of the economic behaviour relating to the appraisal project shall be obtained; 

4. If the appraisal report or the appraisal and consultation opinions have not been issued due to the termination of the appraisal project by the Securities Appraiser on its own initiative, a reasonable explanation of the reasons for termination issued by the Securities Appraiser shall be obtained; 

(3) In the event that a Securities Appraiser merges with other appraisal institutions, the appraisal business income received by each party before the merger shall not be consolidated.

       二、关于评估业务收入计算问题

    (一)证券评估机构评估业务收入,区分为“直接委托的评估业务收入”和“非直接委托的评估业务收入”。在证券评估资格管理中,对财企[2008]81号文件第一条第(二)款第7项规定的“最近3年每年不少于500万元,合计不少于2000万元的评估业务收入”,是指证券评估机构不改变会计核算原则并经审计核实的“直接委托的评估业务收入”,其发生的“非直接委托的评估业务收入”仍按原有规定核算和管理,但不予计算。

    (二)证券评估机构接受评估(咨询)报告使用者委托并签订业务约定书,履行了评估准则规定的相关程序,编制了评估工作底稿,向委托方开具了发票,取得了收款的权利,并同时具备下列情形之一的,计算为“直接委托的评估业务收入”:

    1.对单项资产或企业整体资产的价值向委托方出具了评估报告;

    2.在对单项资产或企业整体资产的价值判断基础上,向委托方出具了书面评估咨询意见;

    3.因委托方原因终止评估项目未出具评估报告或评估咨询意见的,应当具备评估项目终止协议或者评估项目相关经济行为终止的证明文件;

    4.因证券评估机构主动终止评估项目未出具评估报告或评估咨询意见的,应当具备证券评估对终止原因的合理说明。

    (三)证券评估机构与其他评估机构合并的,合并前各方取得的评估业务收入不再合并计算。

3. Issues relating to internal management

(1) A Securities Appraiser shall establish a sound quality control system, adopt effective protection measures, and reasonably ensure its own independence and the independence of its personnel and avoid conflict of interest. 

(2) A Securities Appraiser shall improve its internal financial system, strengthen financial management, regulate financial conduct and prevent financial risk according to the requirements of General Rules on Enterprise Finance (Order No. 41 of the Ministry of Finance). 

(3) Apart from the revolving fund needed for business operation, a Securities Appraiser shall not grant long-term loans to shareholders and other individuals in general. The loans granted by the Securities Appraiser to shareholders shall not result in the net assets (after deducting shareholders' loans) falling to below RMB2 million. Reasons, amounts and repayment undertaking shall be specified for individual loans needed for force majeure and resolutions of such loans shall be passed by the board of shareholders. 

(4) If a Securities Appraiser commences asset operation management, it shall provide financial protection for the sustainable development of the appraised business and institutions and shall not engage in equity investment.

(5) A Securities Appraiser shall strictly comply with the State's provisions on cash management, bank settlement and invoice management. The payment and receipt of large amount of cash and the transfer of funds between institutions shall be conducted by bank transfer and legal vouchers shall be issued or obtained. 

(6) The principle on the recognition of appraisal business income of a Securities Appraiser shall comply with the provisions of the Accounting Standards for Enterprises, and shall remain consistent. If an appraisal report has been issued but appraisal income has not been recognized or if an appraisal report has not been issued due to the termination of the appraisal project but the appraisal income has already been recognized, such situations have to be explained in the annual filing. 

       三、关于内部管理问题

    (一)证券评估机构应当建立健全质量控制制度,采取有效的防护措施,合理保证本机构及其人员的独立性,避免利益冲突。

    (二)证券评估机构应当按照《企业财务通则》(财政部令第41号)要求,完善内部财务制度,加强财务管理,规范财务行为,防范财务风险。

    (三)除了执行业务所需的周转金以外,证券评估机构一般不得长期借款给股东及其他个人。证券评估机构借款给股东的,不得导致净资产扣减股东借款后低于200万元。由于不可抗力原因需要的个人借款,应当说明事由、金额、还款承诺,并经过股东会决议。

    (四)证券评估机构开展资产营运管理,应当为评估业务和机构可持续发展提供财务保障,并不得从事股权投资。

    (五)证券评估机构应当严格遵守国家有关现金管理、银行结算、发票管理等规定。大额现金收付和机构之间的款项往来,应当通过银行转账,开具或者取得合法凭证。

    (六)证券评估机构评估业务收入的确认原则应当符合《企业会计准则》的规定,并保持一贯性。对于已出具评估报告但未确认评估收入,或者因终止评估项目未出具评估报告但已确认评估收入的情况,在年度备案时应当予以说明。

4. Issues relating to supervision and examination

(1) The Ministry of Finance and CSRC shall supervise the Securities Appraisal Institutions in accordance with the law. If a Securities Appraiser is involved in the following situations relating to the management of securities appraisal qualification, the Ministry of Finance, CSRC and China Appraisal Society shall form a joint examination group to conduct on-site examination: 

1. A situation that meets the conditions specified in item 2 to item 5 of paragraph (2) of Article 1 of the document Cai Qi [2008] No. 81; 

2. A situation that requires particular attention according to paragraph (1) of Article 7 of the document Cai Qi [2008] No. 81;

3. The filing materials do not match the actual situations. 

(2) The joint examination group shall inform a Securities Appraiser of an on-site examination five working days in advance, and the examination shall be conducted in accordance with the rules governing the review and approval of securities appraisal qualification. The Securities Appraiser and its registered asset appraisal institutions shall cooperate in the on-site examination.

After conducting the on-site examination, the joint examination group shall prepare an examination report and issue handling opinions. 

(3)The Ministry of Finance and CSRC may implement measures such as issuing a warning letter (Appendix 2) or an order for rectification (Appendix 3) in accordance with the provisions of paragraph (3) of Article 7 of the document Cai Qi [2008] No. 81 and state clearly and announce that the Securities Appraiser does not comply with the provisions of the document Cai Qi [2008] No. 81 and the specific requirements of the regulatory measures. 

(4) If a Securities Appraiser fails to meet the conditions prescribed in paragraph (2) of Article 1 of the document Cai Qi [2008] No. 81 after rectification, the Ministry of Finance and CSRC will revoke its securities appraisal qualification in accordance with the law.

       四、关于监督检查问题

    (一)财政部、证监会依法对证券评估机构进行监督。证券评估机构涉及证券评估资格管理的以下事项,应当由财政部、证监会、中国资产评估协会组成联合检查组进行实地检查:

    1.符合财企[2008]81号文件第一条第(二)款第2项至第5项条件的情况;

    2.发生财企[2008]81号文件第七条第(一)款应予特别关注的情形;

    3.备案材料与实际情况不符的。

    (二)联合检查组进行实地检查,提前5个工作日通知证券评估机构,按照证券评估资格审批工作规则进行。证券评估机构及其注册资产评估师对实地检查应当予以配合。

    联合检查组经过实地检查后,应当形成检查报告,提出处理意见。

    (三)财政部、证监会根据财企[2008]81号文件第七条第(三)款的规定,采取出具警示函(附件2)、责令整改(附件3)等措施,列明证券评估机构不符合财企[2008]81号文件规定的情形以及监管措施的具体要求,并予公告。

    (四)证券评估机构整改后仍未达到财企[2008]81号文件第一条第(二)款规定条件的,财政部、证监会将依法撤回其证券评估资格。

5. Issues relating to the creation of integrity files

(1) The Ministry of Finance, CSRC and China Appraisal Society shall gradually create uniform integrity files of Securities Appraisal Institutions.

(2) A Securities Appraiser shall be recorded in the integrity files upon the occurrence of any of the following situations: 

1. Filings are not submitted in accordance with the provisions;

2. The filing materials do not agree with the facts;

3. Does not cooperate with the Ministry of Finance and CSRC in their supervision and administration; 

4. Undertake securities appraisal business during the period in which rectification shall be made in accordance with an order because the conditions prescribed in the document Cai Qi [2008] No. 81 are not met; 

5. Criminal penalty, administrative penalty or disciplinary penalty is imposed due to the operation of securities business; 

6. Other situations that affect the integrity record of the Securities Appraiser. 

(3) The Ministry of Finance, CSRC and China Appraisal Society will announce the integrity records of Securities Appraisal Institutions to the public on a regular basis.

       五、关于建立诚信档案问题

    (一)财政部、证监会、中国资产评估协会逐步建立统一的证券评估机构诚信档案。

    (二)证券评估机构发生的以下情形,将被记入诚信档案:

    1.不按规定进行报备的;

    2.报备材料与事实不符的;

    3.不配合财政部、证监会进行监督管理的;

    4.因不符合财企[2008]81号文件规定条件而被责令整改期间承接证券评估业务的;

    5.因执行证券业务受到刑事处罚、行政处罚或行业自律惩戒的;

    6.其他影响证券评估机构诚信记录的情形。

    (三)财政部、证监会、中国资产评估协会定期将证券评估机构诚信记录向社会公布。

6. Miscellaneous

(1) China Appraisal Society shall strengthen the self-disciplinary administration of the industry, guide and supervise Securities Appraisal Institutions to practice in accordance with the provisions of the asset appraisal standards, assist the Ministry of Finance and CSRC to commence regulatory work, and continue to improve the securities appraisal regulatory information system.

(2) This Notice shall be implemented from the date of issue. 

Appendixes: 1. Form of the Performance of Industry and Social Responsibilities for year__________

2. Decision of the Ministry of Finance and CSRC to issue a warning letter to _________ company

3. Decision of the Ministry of Finance and CSRC to order _________ company to make rectification

Ministry of Finance 

China Securities Regulatory Commission

November 6, 2009

       六、其他事项

    （一）中国资产评估协会要加强行业自律管理，指导、监督证券评估机构按照资产评估准则的规定规范执业，协助财政部、证监会开展监管工作，不断完善证券评估监管信息系统。

    （二）本通知自下发之日起执行。

    附件:1._____年度履行行业和社会责任情况表（略）

    2.财政部证监会关于对____公司采取出具警示函措施的决定（略）

    3.财政部证监会关于对____公司采取责令改正措施的决定（略）

    财政部

   证监会

    二○○九年十一月六日