Monthly salary of 300,000 to make up for 20,000 of the former vice president of Minsheng Securities

Monthly salary of 300,000 to make up for 20,000 of the former vice president of Minsheng Securities
The outgoing executive staged the bridge from the former owner’s suit to the court again for wages.Recently, a document updated by the Judgment Documents Network revealed that Fang Zun, the former vice president of Minsheng Securities, had repeatedly filed a court with Minsheng Securities for wage arrears.What is striking is that Fang Zun’s salary is up to nearly 10 million yuan, and during his tenure, the monthly salary is 30 million times 20,000.The court judged 4.5 million on June 8, 2018. Fang Zun resigned from Minsheng Securities due to arrears of wages and other issues, and the labor contract was terminated on the same day.One month later, on July 11, 2018, Fang Zun filed an arbitration with the Beijing Dongcheng Labor and Personnel Dispute Arbitration Commission (“Dongcheng Arbitration Commission”) for arrears in wages and allowances.Fang Zun asked Minsheng Securities to pay the corresponding salary and other expenses totaling 1034.630,000 yuan.However, on October 12, 2018, the Dongcheng Arbitration Commission ruled that the payer of Minsheng Securities should be honored with the wage difference from April 1 to May 31, 20184.050,000 yuan, and 27 economic compensation for termination of labor contract.940,000 yuan, a total of 31.990,000 yuan.Fang Zun, who was dissatisfied with the decision, subsequently filed a lawsuit in the court.On November 5, 2019, the court of first instance issued a judgment requesting Minsheng Securities to pay a total of 450 shares.110,000 yuan.These include: 50% of the payroll payable in 2018 from January 1, 2017 to July 17, 2017, 97.RMB 590,000; The total wage difference from April 1, 2018 to June 8, 2018 is 4.050,000 yuan; the payer respects the deferred payment part 320 of the board reward fund.530,000; and pay Fangzun’s economic compensation for the termination of labor relations 27.940,000 yuan.Fang Zun, who was dissatisfied with the judgment, filed an appeal, requesting that Minsheng Securities pay the wage difference of 268 from July 18, 2017 to June 8, 2018.870,000, the core person in charge allowance 300,000 in 2015, 300,000 in 2016 and January to May 2017.5 yuan; total amount 341.370,000 yuan.At the same time, Minsheng Securities requested the resumption of multiple contents in the first-instance judgment in the second instance at the same time, and changed the judgment that Minsheng Securities Company did not need to pay Fang Zun the 50% salary of 975862 to be distributed in 2018 from January 1, 2017 to July 17, 2017.07 yuan, the deferred payment part 320 of the reward fund of the board of directors.530,000 yuan, 26 economic compensation for termination of labor relations.670,000 yuan.However, the court of second instance rejected all requests made by Fang Zun and Minsheng Securities.In the 14 years of service, the monthly salary of 300,000 instead of 20,000 disputes between the two sides needs to start from 2004.On February 1, 2004, Fang Zun joined Minsheng Securities Company. At the time of employment, he served as assistant to the president and manager of the headquarters of the investment bank.Since then, Fang Zun has been working for Minsheng Securities, with the last labor contract period from June 11, 2015 to June 10, 2018.On August 28, 2007, Fang Zun became the vice president of Minsheng Securities.From July 9, 2010, Fang Zun served as a member of the Executive Committee, Director of Compliance, and Vice President.From April 11, 2014, in addition to the above positions, Fang Zun will also serve as executive vice president and chief risk officer.Since June 1, 2016, Fang Zun’s monthly salary has been adjusted to 300,000 yuan.However, just half a year after the salary adjustment, on December 20, 2016, Fang Zun was exempted from the post of compliance director, and other positions continued to be held.According to the judgment document, from January 1 to July 17, 2017, Fang Zunyue’s salary standard is 300,000 yuan, which is composed of a basic salary of 60,000 yuan, a post salary of 90,000 yuan and a performance salary of 150,000 yuan, of which the basic salarySalary and job salary are paid monthly, and performance salary is paid yearly.Half a year after being dismissed from the position of Director of Compliance, on July 17, 2017, the board of directors of Minsheng Securities Company made a decision to dismiss the position of senior management of Fang Zun, and at the same time hired him as a senior consultant of the headquarters of risk management, and removed Fang Zun, executive vice president and chief executive officer.Risk officer, member of the Executive Committee.While multiple positions were exempted, according to the salary standard of employees of Minsheng Securities Company, Fang Zun ‘s monthly salary before 300,000 was adjusted to 5.750,000 yuan.Because the senior consultant position is a special job, after April 1, 2018, Minsheng Securities did not arrange other new military jobs for Fang Zun, and adjusted Fang Zun’s monthly salary to 2 million.In just one year, Fang Zun’s monthly salary dropped from 300,000 to 20,000.However, the court did not agree with the monthly salary of 20,000 yuan.The court of first instance determined that Minsheng Securities did not submit to the court the basis for lowering the monthly salary standard of Fang Zun again, so Minsheng Securities Company should follow the monthly salary.The standard payer of 750,000 yuan pays the salary from April 1 to June 8, 2018.Risks due to failure to perform due diligence?In the dispute between the plaintiff and the defendant, a budget for the “Board Reward Fund” attracted attention because of its huge size.Fang Zun asked Minsheng Securities to pay 447.The $ 390,000 board award fund, Minsheng Securities refused to pay this fund on the grounds that Fang Zun replaced diligence and diligence.Minsheng Securities Co., Ltd. submitted evidence such as the China Securities Regulatory Commission’s decision on administrative supervision measures, and Fang Zun announced that it did not elicit the name of itself and its department in charge, and it has no responsibility.Minsheng Securities Co., Ltd.’s counterpart Zungui conducted an outgoing audit. The audit results showed that: Fang Zun was the company’s executive vice president, chief risk officer and member of the executive committee from April 30, 2014 to July 14, 2017, in charge of the risk management headquartersjobs.Except for the items described in “Six, Auditing potential company risk events” and “Seven, auditing concerns”, Fang Zun found no violations of laws and regulations and violations of company regulations.However, Fang Zun owns the risk events listed in the report belong to the relevant company’s risk events, and it does not need to bear personal responsibility for these risk events.In the audit report, there is indeed no record of Fang’s diligent and diligent work leading to “audit consequences of company risk events” and “audit concerns” and Fang Zun’s personal responsibility for this.The court found that the evidence submitted by Minsheng Securities Co., Ltd. was insufficient to prove that Fang Zun was “diligently and dutifully replaced, leading to in charge of business operations or major violations of laws and regulations or significant risks”.The reporter searched on the website of the China Securities Regulatory Commission for fines during the period when Minsheng Securities served as executive vice president, chief risk officer, and member of the executive committee (from April 30, 2014 to July 14, 2017).During this period, Minsheng Securities received a total of 4 suspected decisions related to the company.Among them, the Securities Regulatory Commission issued an administrative lawsuit against Liu Xiaoyong, the assistant to the president of Minsheng Securities and the general manager of the Securities Investment Headquarters, because of insider trading, and found it to be a market ban; January 16, 2015, due to the existence ofMinsheng Securities received a warning letter from the China Securities Regulatory Commission for issues such as client financing and margin lending in companies and other securities companies with controlled relationships that had securities transactions for less than half a year.In addition, on December 29, 2015, the Licensing Commission verified that the former general manager of the business department of Minsheng Securities Taiyuan Changfeng Street was suspected of fraudulently defrauding investors by the fictitious New Third Board investment fund, which lasted for a long time and involved a large amount of money.Mandatory measures.Although the company was not found to be involved in fraudulent activities, the company had problems such as inadequate control by the person in charge of the sales department and the failure of the supervision mechanism, reflecting the company’s imperfect internal control and chaotic management.The punishment brought a heavy blow to Minsheng Securities. In addition to requiring the Minsheng Securities Liability Order to be corrected within a time limit and increasing the number of internal compliance checks, the CSRC was also sentenced to suspend the newly opened securities account for six months.New brokerage business customers.Sauna, Yewang Zhang Siyuan Editor Yue Caizhou proofreading Li Xiangling