Where laws, administrative regulations and China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) have other provisions on customer asset management business of securities companies, those provisions shall prevail. Article 3 Securities companies engaged in customer asset management business shall abide by laws, administrative regulations and the provisions of the China Securities Regulatory Commission, follow the principles of fairness and justice, safeguard the legitimate rights and interests of customers, be honest and trustworthy, be diligent and conscientious, and avoid conflicts of interest.
Securities companies engaged in customer asset management business should fully understand customers, classify customers, follow the principle of risk matching, recommend suitable products or services to customers, and prohibit misleading customers to buy products or services that are inconsistent with their risk tolerance.
Customers shall bear the investment risks independently, and shall not harm the national interests, social public interests or the legitimate rights and interests of others. Article 4 A securities company engaging in customer asset management business shall apply to the China Securities Regulatory Commission for the qualification of customer asset management business in accordance with the provisions of these Measures. Securities companies that have not obtained the qualification of customer asset management business shall not engage in customer asset management business. Article 5 Securities companies engaged in customer asset management business shall sign asset management contracts with customers in accordance with the provisions of these Measures, operate customer assets in the manner, conditions, requirements and restrictions stipulated in the asset management contracts, and provide investment management services for customers in financial products such as securities. Article 6 Securities companies engaged in customer asset management business shall implement centralized operation management and sign asset management contracts with foreign countries. Article 7 A securities company engaged in the customer asset management business shall establish and improve the risk control system and compliance management system, take effective measures to separate the customer asset management business from other businesses of the company, control the improper flow and use of sensitive information, and prevent insider trading and conflicts of interest. Article 8 Stock exchanges, securities registration and settlement institutions and China Securities Association shall, in accordance with laws, administrative regulations and the provisions of the China Securities Regulatory Commission, implement standardized and orderly self-discipline management and industry guidance on the customer asset management business of securities companies. Article 9 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage the customer asset management activities of securities companies in accordance with laws, administrative regulations and these Measures. Article 10 Securities companies are encouraged to carry out asset management business innovation according to law on the premise of effectively controlling risks.
China Securities Regulatory Commission and its dispatched offices shall, in accordance with the principle of prudent supervision, take effective measures to promote the standardized and orderly development of asset management innovation activities of securities companies. Chapter II Scope of Business Article 11 A securities company may engage in the following customer asset management businesses according to law:
(1) Handling directional asset management business for a single customer;
(2) Handling collective asset management business for multiple customers.
(3) Handling special asset management business for specific purposes for customers. Article 12 When a securities company conducts targeted asset management business for a single customer, it shall sign a targeted asset management contract with the customer and provide asset management services for the customer through a special account. Article 13 A securities company shall set up a collective asset management plan for multiple clients, sign a collective asset management contract with the clients, entrust the clients' assets to other asset custody institutions such as designated commercial banks, China Securities Depository and Clearing Co., Ltd. or securities companies recognized by China Securities Regulatory Commission, and provide asset management services for clients through special accounts. Article 14 A securities company may set up a limited aggregate asset management plan and an unrestricted aggregate asset management plan when handling the aggregate asset management business.
The assets of the limited aggregate asset management plan shall be mainly used to invest in fixed-income financial products with high credit rating and strong liquidity, such as government bonds, bond-type securities investment funds and corporate bonds listed on the stock exchange; The assets invested in equity securities such as stocks and equity securities investment funds shall not exceed 20% of the net assets of the plan, and the principle of diversification of investment risks shall be followed.
The investment scope of the unrestricted aggregate asset management plan shall be stipulated in the aggregate asset management contract and shall not be restricted by the provisions of the preceding paragraph. Article 15 When handling special asset management business for clients, securities companies shall sign special asset management contracts, set specific investment targets according to the special requirements of clients and the specific conditions of assets, and provide asset management services for clients through special accounts.
Securities companies can handle special asset management business by setting up a comprehensive aggregate asset management plan. Sixteenth securities companies that have obtained the qualification of customer asset management business can handle directional asset management business; To handle the special asset management business, it is necessary to apply to the China Securities Regulatory Commission item by item in accordance with the provisions of these Measures. Seventeenth securities companies to carry out asset management business, investment sponsors shall not be less than 5 people. Investment promoters must have more than 3 years experience in securities investment, research and investment consulting, have a good record of integrity and professional ethics, and be registered by China Securities Industry Association.