China News Service, Beijing, June 24 (Reporter Chen Kangliang) The China Securities Regulatory Commission announced on the 24th that the China Securities Regulatory Commission has drafted the "Interim Provisions on the Management of Private Pension Investment Public Offering Securities Investment Fund Business (Draft for Comment)" (hereinafter referred to as "" Interim Regulations), and openly solicit opinions from the public.
The relevant person in charge of the China Securities Regulatory Commission stated that the move aims to promote the construction of a multi-level, multi-pillar pension insurance system and regulate the business of private pension investment in publicly offered securities investment funds (hereinafter referred to as funds).
According to reports, the "Interim Provisions" consists of 6 chapters and 30 articles, mainly stipulating the following three aspects: First, clarify the general principles and basic requirements for fund managers and fund sales agencies to carry out personal pension investment fund business;
The second is to clarify the standard requirements for fund products that individual pension funds can invest in, and to stipulate the investment management and risk management responsibilities of fund managers;
The third is to clarify the requirements for the development of fund sales agencies, and to stipulate the responsibilities of fund sales agencies for information prompting, account services, publicity and promotion, suitability management, and investor education.
Among them, the new regulations make it clear that the fund products that individual pension funds can invest in should have the characteristics of safe operation, mature and stable, standardized target, focus on long-term value preservation, etc., and comply with laws and regulations and the regulations of the China Securities Regulatory Commission, including: Pension target funds below 50 million yuan (RMB, the same below); stock funds, hybrid funds, bond funds, funds with stable investment style, clear investment strategy, good long-term performance, and stable operation compliance, suitable for long-term personal pension investment China Fund, etc.
In addition, the new regulations require that fund sales institutions that carry out business related to personal pension fund sales shall meet the following conditions: good operating conditions, stable financial indicators, and strong public fund sales capabilities; stock funds and hybrid funds at the end of the last four quarters The scale of holdings is not less than 20 billion yuan, of which the scale of stock funds and mixed funds held by individual investors is not less than 5 billion yuan; the company has sound corporate governance, perfect internal control, and a high level of compliance management; the last three years No criminal punishment or major administrative punishment; no major administrative supervision measures have been taken for similar businesses in the past year; no major violations of laws and regulations are in the period of rectification, or suspected of major violations of laws and regulations are under investigation by regulatory agencies, etc.
The China Securities Regulatory Commission implements directory management of individual pension funds, and updates the directory of individual pension funds on the official website, fund industry platform, information platform, etc. at the end of each quarter.
Under the following circumstances, the CSRC will remove from the list from time to time: in accordance with the provisions of laws and regulations and the fund contract, the product no longer meets the conditions for the existence of the product; the product has undergone major changes and is no longer suitable for personal pension investment, etc.
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