Chinanews.com, December 25. According to the website of the China Banking and Insurance Regulatory Commission, the China Banking Regulatory Commission issued on the 25th the "Interim Measures for the Administration of the Sales of Wealth Management Products of Commercial Bank Wealth Management Subsidiaries (Draft for Solicitation of Comments)" (hereinafter referred to as "Draft for Comments") to solicit opinions from the society .
The "Opinions" stated that when bank wealth management subsidiaries are engaged in the sales of wealth management products, they should fully disclose information and reveal risks to investors, break rigid payment, and must not directly or disguisely promote or promise to guarantee principal and return, and must not harm the national interest and social public interest. And the legitimate rights and interests of investors.
Data map: Banking and Insurance Regulatory Commission.
Photo by China News Agency reporter Jia Tianyong
The "Draft Opinions" mentioned that without the permission of the financial supervision and management department, any non-financial institution or individual may not directly or in disguise agency sales of wealth management products.
Wealth management product sales institutions shall not carry out other financial product sales business activities in the name of financial management or use the word "financial management".
The "Draft Opinions" requires that wealth management product sales institutions and their sales staff are engaged in the sales of wealth management products and shall not have the following circumstances:
(1) Misleading investors to purchase wealth management products that are incompatible with their risk tolerance;
(2) False propaganda, one-sided or improper propaganda, exaggerating past performance, predicting the investment performance of wealth management products, or issuing or publicizing the expected rate of return of wealth management products;
(3) Use performance comparison benchmarks that do not specify the reasons for selection, calculation basis, and calculation methods to promote wealth management products;
(4) Mixing up sales of wealth management products with deposits or other products;
(5) Mandatory bundling or tying of other services or products in the process of selling wealth management products;
(6) Provide lucky draws, rebates, gifts in kind, surrogate rights and financial products, etc. to sell wealth management products;
(7) Violating the principle of prioritizing the interests of investors, in order to seek the interests of institutions or personnel, inducing investors to conduct short-term and frequent purchase and redemption operations;
(8) Sales personnel sign sales business-related documents on behalf of investors in violation of regulations, or conduct risk tolerance assessments and purchase wealth management products on behalf of investors, hold on behalf of investors or arrange for others to hold on behalf of investors the financial management sold by the institution product;
(9) Provide direct or indirect, explicit or implicit guarantees for wealth management products, including part or all of the guaranteed principal or income guarantee;
(10) Use or promise to use wealth management products and wealth management product sales for benefit transmission or benefit exchange;
(11) To give, receive or ask for benefits other than those stipulated in the financial product sales cooperation agreement;
(12) Maliciously slander or belittle other financial product sales institutions or other financial products;
(13) Withholding or embezzling financial product sales settlement funds;
(14) Providing financial product investors with relevant information in violation of laws and regulations;
(15) Carrying out sales business without authorization or beyond the scope of authorization, privately recommending and selling wealth management products that have not been approved by the institution, and storing documents and materials related to the sales of wealth management products that have not been approved by the institution in business outlets;
(16) Failing to issue wealth management products at the time specified in regulations or agreements, or changing the issuance date of wealth management products without authorization;
(17) Before registering the wealth management products in the national banking wealth management information registration system and obtaining the registration code, handle the sales of wealth management products and publish the promotion materials for wealth management products;
(18) Other situations prohibited by the banking regulatory agency of the State Council.
The "Draft Opinions" clarified that the collection and use of personal information by wealth management product sales agencies shall comply with laws and regulations and follow the principles of properity and necessity to ensure the safety and legality of information collection, processing and use.
Without the special authorization of the client, the client's personal information and related financial product sales information may not be provided to other third-party institutions and individuals, unless otherwise provided by laws, administrative regulations and the banking regulatory agency of the State Council.