监管发布资产管理信托、理财、保险资管产品统一信息披露制度

Core Viewpoint - The National Financial Regulatory Administration has issued the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions" to standardize information disclosure practices for asset management trust products, wealth management products, and insurance asset management products, thereby enhancing investor protection [1][2]. Group 1: Regulatory Framework - The new measures aim to address the lack of a dedicated regulatory framework for information disclosure in asset management products, which currently relies on disparate regulations leading to inconsistencies [1]. - The measures establish unified standards for information disclosure across similar types of asset management products, focusing on principles, responsibilities, common content, and internal management requirements [1]. Group 2: Lifecycle Regulation - The measures comprehensively regulate the information disclosure process throughout the lifecycle of asset management products, including fundraising, ongoing management, and termination phases [2]. - During the fundraising phase, the focus is on standardizing product prospectuses and contracts, as well as clarifying performance benchmarks to ensure transparency for product sales [2]. - In the ongoing management phase, the measures require accurate and timely disclosure of net asset values, performance, and investment asset conditions, enhancing clarity around product risks [2]. - For the termination phase, the measures mandate disclosures regarding fees, profit distribution, and remaining asset allocation in expiration announcements or liquidation reports, ensuring clear accounting of product returns [2]. Group 3: Implementation Timeline - The measures are set to take effect on September 1, 2026, allowing approximately eight months for banking and insurance institutions to adjust and modify product documentation and systems accordingly [2].