证监会就公募基金销售费用管理规定公开征求意见

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Regulations on the Management of Sales Fees for Publicly Offered Securities Investment Funds" to lower investor costs and promote high-quality development in the public fund industry [1] Group 1: Key Changes in Regulations - The new regulations aim to reasonably reduce subscription fees, purchase fees, and sales service fee rates to lower investor costs [1] - Redemption arrangements are optimized, with the full amount of redemption fees being allocated to the fund's assets [1] - Long-term holding is encouraged by exempting sales service fees for investors holding stock, mixed, and bond funds for over one year [1] Group 2: Focus on Fund Development - The regulations maintain a development orientation for equity funds by setting differentiated upper limits on trailing commission payment ratios [1] - There is a strengthened standardization of fund sales fees, addressing issues such as interest allocation from fund sales settlement funds and dual charging in fund advisory services [1] - A direct sales service platform for institutional investors in the fund industry is established to provide efficient, convenient, and secure services for fund managers' direct sales [1]