金融监管总局就《资产管理信托管理办法 （征求意见稿）》公开征求意见

Core Viewpoint - The Financial Regulatory Bureau has drafted the "Asset Management Trust Management Measures (Draft for Comments)" to standardize the development of asset management trust businesses in accordance with the central financial work conference spirit [1][2] Group 1: Product Positioning - Asset management trusts are defined as private asset management products based on trust legal relationships, aimed at qualified investors with risk identification and bearing capabilities [1] - The principle of responsibility is established: "the seller is responsible, the buyer bears the risk; if the seller is negligent, compensation is required" [1] Group 2: Management and Regulation - Comprehensive management throughout the product lifecycle is emphasized, including strict regulations on product establishment, sales management, and ongoing management [1] - Trust companies are required to enhance risk management and net value management, as well as to fulfill information disclosure obligations [1] Group 3: Sales Management - Clear management requirements are set for trust documents, risk declarations, investor commitments, and risk assessments [1] - The regulation aims to enhance investor awareness of the risks associated with trust product investments [1] Group 4: Investment Management - Specific requirements for the types of underlying assets in trust products are outlined, along with detailed rules for portfolio investments [1] - Prohibition of channel business and fund pool operations is established, along with enhanced transparency in managing investments in other asset management products [1] Group 5: Risk Management and Information Disclosure - Strengthened comprehensive risk management requirements are introduced, focusing on operational, credit, and liquidity risks [2] - The quality of information disclosure is to be improved, with regulations on disclosure behavior and content [2]