中信证券：银行代销新规助推专业化，行业或迎洗牌

Core Viewpoint - The new regulations for banks' agency sales will impose detailed requirements on various aspects of product access, significantly impacting star public fund managers who transition to private management, while stricter private fund access standards will benefit top-tier managers [1] Group 1: Regulatory Impact - The implementation of the new regulations will enhance the professionalism of banks as agency sales institutions, effectively protecting investors' interests [1] - The regulations are expected to lead to a reshuffling in the product agency sales business due to the combination of policy support for high-quality development in the private fund industry and challenges posed by the indexation of public equity funds [1] Group 2: Market Dynamics - The rapid advancement of cross-bank agency sales business is a notable trend that will influence the competitive landscape [1]