These Provisions represent the first unified regulatory system for the management of seriously untrustworthy entities in the financial sector. Compared to previous models that primarily relied on one-off administrative penalties for financial misconduct, this achieves a systemic innovation. The main contents are as follows:

1. 1. Scope of Application and Inclusion Criteria

The "List of Seriously Dishonest Entities" primarily targets parties (including citizens, legal persons, or other organizations) whose violations are of an especially egregious nature and particularly serious circumstances. The inclusion criteria are specifically divided into the following three categories:

1. 1）Those subject to significant administrative penalties (including: institutions having their licenses or business permits revoked; individuals having their lifelong qualifications revoked or cancelled, being banned from working in banking or insurance for life);
2. 2）Those who, due to committing one of six specified acts (e.g., obtaining administrative licenses by fraudulent or unfair means; fraudulently obtaining loans by deception), have been subjected to heavier administrative penalties, have had market access restricted, have been ordered to transfer equity, or have had administrative permits revoked, seriously disrupting market order;
3. 3）Those who have the ability to perform but refuse to comply with administrative decisions made by financial regulatory authorities, resulting in an enforcement ruling issued by a court.

2. 2. Management Measures for Dishonest Conducts

Once an entity is included in the list, it will face dual constraints from both regulatory and market perspectives:

1. 1）At the regulatory level: the inclusion shall be taken as an important consideration in the review of administrative licensing, qualifications, government procurement, and project tendering; the entity shall be designated as a key regulatory target with increased inspection frequency; and facilitative measures such as the notification‑based commitment system shall not apply.
2. 2）At the Market Level: Financial institutions may query and refer to the list in their business activities such as investment and financing, credit extension, loans, and insurance, achieving a disciplinary effect of "discredited once, restricted everywhere".
3. 3. Conditions for Removal from the List

The Provisions establish two channels for removal:

1. 1）Automatic Removal upon Expiration: Three years after being placed on the list, the authority that made the decision shall remove the entity within 10 working days from the expiration date.

   2）Early Application for Removal: After being on the list for one year, and simultaneously meeting the three conditions of "having fulfilled obligations", "having               eliminated negative impacts", and "having not reoccurred as a cause for inclusion", an entity may proactively apply for early removal.