代销新规即将实施，已有银行抢先行动

Core Viewpoint - The implementation of the new regulations for commercial banks' agency sales business, effective from October 1, 2023, is prompting banks to adjust their sales models and strengthen compliance, indicating a shift towards self-managed channels [1][2][4]. Regulatory Changes - The new regulations restrict commercial banks to sell products only through their own channels, such as bank branches, official websites, and proprietary apps, prohibiting outsourcing or embedding sales processes in third-party platforms [4][5]. - Banks are expected to enhance their compliance and transparency in sales practices, ensuring that all sales activities are traceable and within their control [2][4]. Business Model Adjustments - A certain commercial bank has announced the termination of its fund sales cooperation with third-party platforms "Huawei Wallet" and "Yutong Life," signaling a broader trend among banks to reassess and modify their agency sales strategies [1][2]. - Other banks are likely to follow suit, especially those with strong self-channel foundations, as they adapt to the new regulatory environment [3][5]. Long-term Implications - The new regulations are anticipated to lead to a systematic restructuring of the agency sales model, compelling banks to improve their sales processes and service quality [1][4]. - In the long run, the regulations will promote a new phase of regulatory oversight that emphasizes full traceability in sales processes, enhancing the overall compliance level within the industry [4][5]. Strategic Focus - Banks are shifting their wealth management strategies to focus on self-operated platforms, which allows for better customer data management and personalized service offerings [5][6]. - The core competitive advantages for banks in the future will include leveraging their large customer bases, integrating various financial products, and enhancing professional capabilities to provide tailored wealth management solutions [6].