What do fund companies need?

In China, according to the Interim Measures for the Administration of Securities Investment Funds, the conditions for establishing a fund management company are that the main sponsors are securities companies and trust and investment companies established in accordance with relevant state regulations; The main promoters are in good operating condition and have been making profits continuously for the last three years; The paid-in capital of each promoter is not less than 300 million yuan; The minimum paid-in capital of the fund management company to be established is 6,543,800 yuan; Having a clear and feasible fund management plan; Having qualified fund managers; Other conditions stipulated by the China Securities Regulatory Commission. To apply for the establishment of a fund management company, it is generally necessary to submit relevant documents to the securities management department for review. Only after a qualified fund management company is approved and registered by the securities management department can the fund management company conduct business. For example, in the United States, fund management companies are bound by the Investment Advisers Act. The approval authority for fund management companies is the US Securities and Exchange Commission (SEC). In Japan, any company that wants to become a fund management company (trust company) must obtain a license from the Ministry of Finance, and fund management companies (trust companies) can only sign contracts involving securities investment funds if they obtain a license issued by the Ministry of Finance. According to China's Interim Measures for the Administration of Securities Investment Funds and the Notice of China Securities Regulatory Commission on Relevant Issues Concerning the Application for the Establishment of Fund Management Companies, the application for the establishment of a fund management company needs to go through the following procedures: (1) The application for the establishment of a fund management company shall be initiated by at least two qualified promoters. The main sponsor shall apply to the China Securities Regulatory Commission as the applicant. (2) The establishment of a fund management company has to go through two stages: preparation and opening. The establishment and opening of a fund management company must be approved by the China Securities Regulatory Commission. (3) To apply for the establishment of a fund management company, the main sponsor shall submit the following application materials to the China Securities Regulatory Commission as the applicant: an application report; Feasibility report; Sponsor information; Sponsor agreement; List and resumes of personnel responsible for the preparatory work; Other materials required by China Securities Regulatory Commission. Among them, the sponsor agreement mainly includes: the basic rights and obligations of the sponsor, the mode of contribution of the sponsor to subscribe for the fund share, the fund share held at the time of initial subscription and the authorization of the sponsor to the main sponsor. (4) The preparation period of the fund management company approved by China Securities Regulatory Commission is 6 months. In case of special circumstances, with the approval of the China Securities Regulatory Commission, it may be extended appropriately, but the longest time shall not exceed 1 year. Fund management and other business activities shall not be carried out during the preparation period. (5) When preparing for the establishment of a fund management company, the applicant shall apply to the China Securities Regulatory Commission for starting business, and submit the following application materials: preparation, capital verification certificate, personnel, internal organization and functions, management system, articles of association, business premises and technical facilities, fund management plan and business rules, and other materials required by the China Securities Regulatory Commission. Among them, the articles of association of the company shall be formulated in accordance with the Interim Measures for the Administration of Securities Investment Funds, the Implementation Criteria No.4 and the Guidelines for Necessary Clauses of the Articles of Association of Fund Management Companies issued by the China Securities Regulatory Commission. (VI) A fund management company approved to be established shall go through the registration formalities with the administrative department for industry and commerce with the approval document of China Securities Regulatory Commission, and obtain the legal person license of the fund management company issued by China Securities Regulatory Commission with the business license issued by the administrative department for industry and commerce and the approval document of China Securities Regulatory Commission. (7) The approved fund management company shall be uniformly announced to the public by the China Securities Regulatory Commission in the designated newspaper, and the announcement fee shall be paid by the announced fund management company.