公募基金销售行为规范征求意见！基金直播迎最严新规：主播须持证、禁收打赏红包、脚本全程审核

Core Viewpoint - The China Securities Investment Fund Industry Association has drafted the "Regulations on the Sales Behavior of Publicly Offered Securities Investment Funds (Draft for Comments)" to further regulate fund sales and promotional activities, particularly focusing on the increasingly popular fund live-streaming business [1][6]. Group 1: Platform and Personnel - Fund managers and sales institutions must sign specific agreements with live-streaming platforms to clarify rights and obligations [2][7]. - Live-streaming platforms without fund sales qualifications are prohibited from participating in fund sales activities and must comply with the "Information Technology Management Measures for Securities and Fund Operating Institutions" [2][7]. - Live-streaming personnel must possess fund practitioner qualifications and be employed by fund managers or sales institutions; unqualified personnel are not allowed to introduce or comment on fund-related content [2][7]. Group 2: Content and Process - The draft outlines a systematic compliance management requirement for the live-streaming process, emphasizing "pre-audit, in-process monitoring, and post-review" [3][8]. - Pre-audit involves compliance checks on the live-stream script, including key and sensitive issues, and requires a clear response plan [3][8]. - In-process control mandates that the live-streaming party must have contingency plans for unexpected situations and manage the comment section effectively [3][8]. - Post-review requires compliance records to be filled out, and the compliance department must review the content based on risk levels [3][8]. Group 3: Data Preservation - New regulations specify different preservation periods for live-streaming materials based on content type: materials related to brand promotion and fund sales must be preserved for at least 20 years, while investor education materials must be kept for at least 3 years [4][9]. - Fund managers and sales institutions must negotiate to obtain live-stream videos from unqualified platforms; if not possible, they must record and preserve the content accordingly [4][9]. - The introduction of this draft may signify that the fund live-streaming marketing channel will be subject to strict and unified regulatory frameworks to curb misleading promotions and promote a return to professional investor services [4][9].