The foreign exchange bureau shall conduct at least one on-site inspection of all franchisees within its jurisdiction within three years.
Article 50 The foreign exchange bureau shall supervise, inspect or investigate the franchised institutions and their banks in accordance with regulations.
Article 51 A franchise institution shall submit business statistics and relevant materials to the local foreign exchange bureau in accordance with the following provisions:
(a) the franchise institution shall designate a special person to engage in statistics and report submission, and implement the A and B angle system. Any change of relevant personnel shall be filed with the local foreign exchange bureau within 5 working days;
(2) The franchise institution shall submit the supervision statement of reserve fund according to the requirements of the local foreign exchange bureau (attached table1);
(3) Franchise institutions or branches shall submit the Monthly Report on Franchise Business to the local foreign exchange bureau within 5 working days at the beginning of the month (Table 2);
(4) The headquarters of a franchise institution operating nationwide shall submit the Monthly Report of the System-wide Franchise Business to the local foreign exchange bureau every month within the time limit specified in the preceding paragraph (Table 3);
(5) Other data and statements required by the foreign exchange bureau.
Article 52 The foreign exchange branch is responsible for summarizing the business development of licensed institutions within its jurisdiction on a monthly basis, and submitting the Monthly Statement of Franchised Business within its jurisdiction to the State Administration of Foreign Exchange within 10 working days at the beginning of each month (Table 4).
Article 53 A franchise institution shall, in accordance with the relevant provisions of the state, truly record and comprehensively reflect its franchise activities and financial status, and prepare annual financial and accounting reports.
Article 54 When conducting business activities, a franchise institution shall fulfill its anti-money laundering obligations in accordance with the anti-money laundering regulations.
Article 55 Where a franchise institution involves the following matters, it shall formulate corresponding plans and report them to the local foreign exchange bureau, which shall report them to the State Administration of Foreign Exchange step by step for further examination and approval:
(1) Other innovative local and foreign currency exchange businesses not specified in these Measures;
(two) other channels and methods for the adjustment of reserve funds not specified in these measures.