金融监管总局发布《银行保险机构资产管理产品信息披露管理办法》

Core Points - The Financial Regulatory Bureau announced the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," effective from September 1, 2026, which aims to standardize information disclosure practices and protect investors' rights [1][3]. Group 1: General Provisions - The measures are designed to regulate the information disclosure behavior of asset management products, ensuring that disclosures are truthful, accurate, and complete [3][4]. - Asset management products include trust products, wealth management products, and insurance asset management products issued and managed by banking and insurance institutions within China [3]. Group 2: Disclosure Requirements - Public products must disclose information through a unified industry channel and other agreed channels, while private products must follow regulatory requirements for disclosure [5][6]. - Information disclosure obligations are shared among product managers, sales institutions, and custodians, with clear responsibilities outlined in agreements [5][6]. Group 3: Performance Benchmark Disclosure - Asset management products that disclose performance benchmarks must explain the reasons for the benchmark selection, calculation methods, and its relationship with investment strategies and underlying assets [17]. - The performance benchmark must be disclosed consistently across different channels and cannot be changed without strict internal approval and timely notification to investors [17]. Group 4: Regular Reporting - During the product's existence, regular reports must be disclosed, including quarterly, semi-annual, and annual reports, with specific timelines for public products [20][21]. - The content of these reports includes product size, leverage, net asset value, and performance metrics, ensuring transparency for investors [21][22]. Group 5: Temporary Disclosure - Any significant changes, such as changes in product management or investment strategies, must be disclosed to investors within five working days [29][30]. - The measures also require timely disclosure of any legal issues or significant risks that may impact the product or its investors [30]. Group 6: Management of Disclosure Obligations - Disclosure obligations must be managed effectively, with the board of directors of the product manager ultimately responsible for the disclosure practices [33]. - Institutions must maintain confidentiality regarding undisclosed information and ensure that disclosures are consistent and fair to all investors [34].