The term "consignment of financial products" as mentioned in these Provisions refers to the act of accepting the entrustment of the issuer of financial products, selling financial products or introducing buyers of financial products. Article 3 A securities company shall be qualified to sell financial products on a commission basis in accordance with the Regulations on the Supervision and Administration of Securities Companies and the provisions of the China Securities Regulatory Commission.
The dispatched office of the China Securities Regulatory Commission, where the securities company is domiciled, shall examine and approve the application for the qualification of the securities company to sell financial products on a commission basis according to the conditions and procedures for the securities company to increase the types of regular business. Article 4 A securities company may sell on a commission basis all kinds of financial products issued in China and approved or filed by the relevant state departments or their authorized institutions. Except those prohibited by laws, administrative regulations and relevant state departments. Article 5 Securities companies shall abide by laws, administrative regulations and the provisions of the China Securities Regulatory Commission, follow the principles of equality, voluntariness, fairness, good faith and appropriateness, avoid conflicts of interest, and shall not harm the legitimate rights and interests of customers. Article 6 When a securities company sells financial products on a commission basis, it shall establish systems such as customer qualification examination, due diligence and risk assessment of financial products, and management of sales suitability.
Securities companies should implement centralized and unified management of the consignment business of wealth management products, and clarify the responsibilities of internal departments and branches in the consignment business of wealth management products. Branches of securities companies are prohibited from selling wealth management products without authorization. Article 7 Before a securities company accepts the entrustment to sell financial products on a commission basis, it shall examine the qualifications of its clients. After examination, it is confirmed that the client is legally established and can issue wealth management products before accepting its entrustment. Article 8 A securities company shall carefully select the wealth management products on consignment, and fully understand the issuance basis, basic nature, investment arrangement, risk-return characteristics, management fees and other information of the wealth management products. Only when a securities company confirms that wealth management products are issued according to law, have clear investment arrangements and risk control measures, have clear risk-return characteristics, and can make a reasonable judgment on their risk status can it sell wealth management products on a commission basis. Article 9 A securities company shall sign a written entrustment contract with its customers. A consignment contract shall stipulate the rights and obligations of both parties, and clearly stipulate the following matters:
(1) Making relevant arrangements for information disclosure, risk disclosure and follow-up services for customers;
(2) Relevant arrangements and follow-up handling mechanisms for receiving customer inquiries, inquiries and complaints;
(3) Disposal plan and emergency arrangement when the customer breaches the contract;
(4) The responsibility arising from the design and operation of wealth management products and the untrue, inaccurate and incomplete information provided by customers shall be borne by customers, and the securities company shall not bear any guarantee responsibility. Article 10 A securities company shall, within 5 working days after the signing of the consignment contract, report the documents and materials such as the financial product specifications, publicity and promotion materials to be provided to customers to the dispatched office of China Securities Regulatory Commission where the securities company is domiciled for the record. Article 11 A securities company shall evaluate the risk status of financial products on consignment, classify the risk levels, and determine the types and scope of customers suitable for purchase. Article 12 When introducing wealth management products to customers, a securities company should know basic information such as the customer's identity, property and income status, financial knowledge and investment experience, investment objectives and risk preference, and evaluate the appropriateness of purchasing wealth management products.
If a securities company considers a wealth management product inappropriate or cannot judge its appropriateness, it shall not recommend the wealth management product to customers; If the customer voluntarily requests to buy, the securities company shall inform the customer in writing of the judgment conclusion, prompting him to make a prudent decision, and the customer shall sign for confirmation.
If the scope of the buyer is clearly agreed by the customer, the securities company shall not sell financial products beyond the scope of the buyer determined by the customer. Article 13 A securities company shall disclose the information of the parties to the wealth management product contract, the wealth management product manual and other materials provided by the customers in an appropriate way, comprehensively, fairly and accurately introduce the relevant information of the wealth management product, fully explain the main risk characteristics of the wealth management product such as credit risk, market risk and liquidity risk, and disclose whether it is related to the parties to the wealth management contract.
If the financial products on consignment have low liquidity and transparency, and the loss may exceed the purchase cost or be difficult to understand, the securities company shall make a targeted written explanation to the customer in simple and easy-to-understand words, and disclose in detail the matching between the risk characteristics of the financial products and the customer's risk tolerance, and ask the customer to sign for confirmation.
A securities company shall explain to its customers that the responsibility arising from the design and operation of wealth management products and the untrue, inaccurate and incomplete information provided by customers shall be borne by the customers, and the securities company shall not bear any guarantee responsibility. Article 14 A securities company shall not commit any of the following acts when selling financial products on a commission basis:
(1) misleading customers to buy wealth management products through exaggerated publicity or false publicity;
(2) Inducing customers to buy financial products by means of lottery, kickback and in-kind gift;
(3) Sharing investment profits and losses with customers;
(4) Using an account other than the special deposit account for customer transaction settlement funds of securities companies to receive customers' funds for purchasing financial products;
(five) other acts that may damage the legitimate rights and interests of customers.
Personnel of a securities company engaged in the activities of selling financial products on a commission basis shall not accept property or other benefits from customers.