全部撤回！券商资管申请公募牌照，排队队伍清零！

Core Viewpoint - The application for public fund management licenses by several brokerage asset management subsidiaries has completely ceased, indicating a significant shift in the industry as the deadline for compliance with new regulations approaches [2][3][6]. Group 1: License Application Status - As of November 28, no brokerage asset management companies are in line to apply for public fund licenses, marking a complete withdrawal of applications [3][6]. - Initially, four companies, including Guotai Junan Asset Management, were in the queue for public licenses, but all have now withdrawn their applications [2][6]. - The regulatory environment has shifted, with indications that no new public fund licenses will be granted to brokerage asset management firms [6][8]. Group 2: Regulatory Background - The asset management industry is under pressure to complete the transformation of "public collective" products to comply with regulations by the end of 2025 [7][9]. - The 2018 regulations required brokerage asset management products to align with public fund management standards, leading to a rush for licenses following the easing of restrictions in 2022 [5][7]. Group 3: Industry Response and Future Directions - With the deadline approaching, brokerage asset management firms are exploring various paths, including changing management, liquidation, or transitioning to private fund management [9][10]. - Some firms are transferring their collective products to affiliated public fund companies, while others are opting for private asset management plans [10][11]. - Notably, there are instances of cross-industry management changes, where firms without affiliated fund companies are engaging unrelated fund management firms [10][11].