中国证监会就《公开募集证券投资基金销售费用管理规定(征求意见稿)》公开征求意见

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is seeking public opinion on the revised "Regulations on the Management of Sales Expenses for Publicly Raised Securities Investment Funds" to lower investor costs and promote high-quality development in the public fund industry [1][2]. Summary by Relevant Sections - The regulations consist of six chapters and 28 articles, focusing on reducing costs for investors by adjusting subscription fees, application fees, and sales service fee rates [2]. - The redemption arrangements are optimized, with the full amount of the redemption fee being allocated to the fund's assets [2]. - Long-term holding is encouraged, with no sales service fees applied for investors holding stock, mixed, or bond funds for over one year [2]. - The regulations maintain a development orientation for equity funds by setting differentiated upper limits on trailing commission payment ratios [2]. - There is a reinforcement of sales expense regulations, addressing issues such as the allocation of interest from fund sales settlement funds and dual charging in fund advisory services [2]. - A direct sales service platform for institutional investors in the fund industry will be established to provide efficient, convenient, and secure services for fund managers [2].