At present, asset management companies are divided into four categories:
1. Financial asset management companies such as Dongfang, Cinda, Huarong and Great Wall mainly undertake non-performing loans divested by state-owned banks. Relevant laws and regulations include: Measures for Risk Management of Investment Business of Financial Asset Management Companies, Measures for Risk Management of Entrusted Agency Business of Financial Asset Management Companies and Measures for Risk Management of Commercial Acquisition Business of Financial Asset Management Companies;
2. An insurance asset management company refers to a financial institution that is legally registered and entrusted to manage insurance funds with the approval of the China Insurance Regulatory Commission in conjunction with relevant departments. Generally, it is invested with insurance funds under the insurance group. Relevant laws and regulations include: Interim Provisions on the Administration of Insurance Asset Management Companies and Interim Measures on the Administration of the Use of Insurance Funds. , which has specific restrictions on the scope of investment;
3. The asset management department under the securities company mainly adopts the business model recognized by the CSRC, such as collective asset management business, directional asset management business and special asset management business. Relevant laws and regulations include: Trial Measures for Customer Asset Management of Securities Companies, etc.
4. Asset management companies under other industrial groups are mainly engaged in private equity investment, investment consulting and other businesses. For this kind of company, limited by the general company law and contract law, it belongs to the gray area.
To sum up, 1, 2, 3 asset management companies or institutions belong to financial institutions and need the pre-approval of financial regulators. The fourth asset management company only needs to register with the Administration for Industry and Commerce without pre-approval.
———— The above is what I have worked hard to check all kinds of laws and regulations and consulted experts from all walks of life. Give me the reward!