Recently, the Shanghai Municipal Procuratorate and the Shanghai Regulatory Bureau of the China Banking and Insurance Regulatory Commission (hereinafter referred to as the Shanghai Banking and Insurance Regulatory Bureau) jointly signed the "Memorandum of Cooperation on Strengthening Administrative and Judicial Cooperation in the Banking and Insurance Field and Improving the Rule of Law Construction in the Financial Market" (hereinafter referred to as the "Memorandum of Cooperation"). The two sides will ensure the safety of the financial market and maintain the order of the financial market through multi-level in-depth cooperation and common use of governance measures, Optimize the legal business environment. The Memorandum of Cooperation consists of 14 articles, including 12 work measures such as establishing a joint meeting mechanism, two-way transfer of clues, case collaboration support, joint special governance, promoting institutional compliance, and strengthening anti money laundering cooperation. According to the requirements of the Memorandum of Cooperation, in addition to bidirectional transfer of suspected criminal or administrative illegal case clues, both parties will also strengthen information sharing, timely exchange of case progress and processing results, and improve the efficiency of case cooperation and handling. In addition, the Shanghai Municipal Procuratorate and the Shanghai Banking and Insurance Regulatory Bureau will give full play to their respective advantages, jointly carry out research on strengthening the legal supply guarantee for the construction of the Shanghai International Financial Center, supporting and standardizing Financial innovation activities, combating financial crimes, preventing and resolving major financial risks, and carry out joint research on cutting-edge issues, hot issues, standards for handling similar cases and improvement of relevant legal systems in the field of banking, insurance and finance, Jointly promote the transformation and promotion of research results. It is reported that in 2022, Shanghai's procuratorial organs will accept a total of 418 cases of review and arrest of 631 people and 1218 cases of review and prosecution of 2064 people for financial crime. The procuratorate of the city gave full play to the role of the Shanghai Financial Procuratorial Research Center and three research sub centers, punished and prevented financial crime in accordance with the law, severely cracked down on stakeholder financial crime, from severely punishing illegal fund-raising crimes involving private funds, third-party financial management, online lending and other fields, and relying on the working mechanism of the Office of Investigation, Supervision, Cooperation and Cooperation, deeply dug out missing crimes. The relevant person in charge of the Shanghai Procuratorate said that the procuratorial organ of the city would take the opportunity of countersigning the Memorandum of Cooperation, actively connect with the banking and insurance supervision bureau and other financial supervision departments, focus on building a new pattern of coordinated governance of financial justice and financial supervision, work together to deal with the financial risk prevention and control pressure, jointly promote the strengthening of financial supervision, optimize the financial supervision model, and improve the level of financial legalization in Shanghai. (New News Agency)