《银行间市场经纪业务管理办法》明年起实施

Core Viewpoint - The People's Bank of China has issued the "Interbank Market Brokerage Business Management Measures" to enhance regulation and transparency in the interbank market brokerage business, effective from January 1, 2026 [1][2] Group 1: Key Provisions of the Measures - The measures consist of six chapters and twenty-five articles, covering general principles, brokerage institutions and personnel, business management, supervision, legal responsibilities, and supplementary provisions [1] - Brokerage institutions are permitted to provide brokerage services in the money market, bill market, gold market, interbank bond market, and related derivatives markets, but are prohibited from offering brokerage services for financial institutions participating in bond issuance [1] - Brokerage institutions are required to strengthen internal controls and manage the entire business process, enhancing the standardization of personnel management, due diligence, contract services, pricing inquiries, transaction matching, information disclosure, and record-keeping [1] Group 2: Responsibilities and Supervision - The measures clarify the responsibilities of the entrusting parties, who must sign service agreements with brokerage institutions and assist in due diligence while managing communication tools to ensure the authenticity of entrustments [1] - There will be strengthened supervision and management, with clear prohibitions on certain brokerage activities, and an improved mechanism for investigating and penalizing illegal activities to protect the legitimate rights of market participants and maintain market order [1]