孰高原则成标配 银行代销基金风险评级迎严监管

Core Viewpoint - Recent adjustments by banks such as China Construction Bank and CITIC Bank to raise the risk levels of certain mutual fund products are primarily aimed at complying with the regulatory requirements of the "Commercial Banks Agency Sales Business Management Measures" [1][4] Group 1: Risk Rating Adjustments - China Construction Bank announced an adjustment to the risk levels of several mutual fund products, raising the risk level of four funds from R3 to R4, marking the second adjustment this year [2] - CITIC Bank has adjusted the risk ratings of 158 mutual fund products, all of which have been raised, and emphasized that if the new risk rating exceeds the investor's risk tolerance, it may lead to failed deductions for investment plans [3] - Agricultural Bank of China has introduced a dynamic evaluation rule for mutual fund risk ratings, collaborating with third-party evaluation agencies to conduct ongoing assessments throughout the product lifecycle [2] Group 2: Regulatory Compliance - The adjustments are in line with the "Agency Sales Measures" issued by the National Financial Supervision Administration, which mandates banks to independently and prudently assess the risk ratings of the products they sell [4] - The principle of adopting the higher risk rating when there is a discrepancy between the bank's assessment and that of the third-party agency is emphasized [4] Group 3: Sales Suitability Management - As the implementation date of the "Agency Sales Measures" approaches, issues in fund sales suitability management, such as mismatches between fund risk levels and clients' actual risk tolerance, are expected to improve [7] - There is a noted mismatch between the risk assessment systems for clients and the risk rating systems for products, leading to challenges in accurately matching fund risk levels with client risk tolerance [7] - The "Agency Sales Measures" require banks to conduct due diligence on the products they sell, ensuring the accuracy and completeness of product information [8]