中基协就公募投资者适当性征求意见！涉及向老年人销售、直播推介基金

Core Viewpoint - The China Securities Investment Fund Industry Association (CSRC) has drafted the "Investor Suitability Management Guidelines for Publicly Offered Securities Investment Funds" to enhance the regulation of fund sales and protect investors' rights, with feedback due by November 26 [1][2]. Group 1: Investor Suitability Management - The guidelines require fund managers and sales institutions to assess investors' risk tolerance and match them with suitable funds based on their investment goals and risk preferences [1][2]. - Fund managers and sales institutions must conduct risk assessments for ordinary investors no more than twice a day and a maximum of eight times within 12 months, with assessment results valid for up to 12 months [2]. Group 2: Special Provisions for Elderly Investors - Specific requirements are set for selling high-risk funds to investors aged 65 and above, mandating enhanced sales processes, risk warnings, and increased follow-up communications [2]. - The guidelines aim to protect elderly investors from significant losses due to inadequate risk awareness or misleading information, thereby holding institutions accountable for their sales practices [2]. Group 3: Live Streaming Regulations - The guidelines address the promotion of funds through live streaming, requiring fund managers and sales institutions to establish internal review processes and ensure compliance with suitability management obligations during live broadcasts [3]. - Fund managers and sales institutions must provide comprehensive risk disclosures and ensure that investors complete risk assessments before engaging in fund purchases via live streaming [3].