信托公司管理办法18年来首次大修

Core Points - The revised "Trust Company Management Measures" aims to promote the core essence of trust, deepen reform and transformation, and effectively prevent risks, set to take effect on January 1, 2026 [1] Business Scope - The new measures clarify that the business scope of trust companies includes three categories: trust business, asset liability business, and other businesses [1] - The previous five types of trust business have been adjusted to three: asset service trust, asset management trust, and public welfare trust [1] - The measures allow trust companies to apply for liquidity support loans from the Trust Industry Guarantee Fund Company and specify that they can provide investment advisory, consulting, and custodial services for financial institutions and their managed asset management products [1][2] Governance Mechanism - The revised measures require trust companies to strengthen shareholder behavior management and conduct regular evaluations of major shareholders [2] - Trust companies must report any violations by shareholders or actual controllers to the financial regulatory authority and implement corrective measures [2] - The board of directors is held responsible for compliance management and risk control, and a Chief Compliance Officer must be appointed to oversee internal control and compliance management systems [2] Prohibited Behaviors - The revised measures explicitly prohibit trust companies from promising guaranteed returns, providing channel services, and engaging in fund pool operations [3][4] - Trust companies must ensure that the management and disposal of trust assets comply with legal regulations and the terms of trust documents, and they cannot invest trust funds directly in commercial bank credit assets [3][4] - Various other prohibited actions include misleading investors, engaging in improper transactions with related parties, and using trust assets for non-trust purposes [4] Industry Implications - The new measures are expected to enhance the governance structure of trust companies, improving operational transparency and supporting high-quality development in the trust industry [3] - By clarifying business scope and operational rules, the measures guide trust companies to focus on core businesses such as asset management and wealth management, promoting healthy and sustainable development in the industry [4]