资管产品信披标准明确！有这十大变动，附解读

Core Viewpoint - The recent issuance of the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions" aims to enhance transparency and accountability in the disclosure of asset management products, addressing issues related to the incomprehensibility and inaccessibility of product returns [1][3]. Group 1: Key Changes in the New Regulations - The new regulations require that professional institutions providing audit and legal opinions for asset management product disclosures must act diligently, ensuring no false records or misleading statements are made [4]. - Asset management products that involve investor meetings or beneficiary assemblies must disclose the procedures and rules for convening, deliberating, and voting in their product documentation [4][5]. - The requirement to disclose performance benchmarks for asset management products has been modified; public products must disclose past performance alongside their establishment date, especially if they have been established for less than a month [5]. - Non-cash management products must disclose net asset values and performance during the reporting period, while cash management products must disclose annualized returns [5][6]. - Cash management products must report their net income per ten thousand units and seven-day annualized yield within two working days after each open day, with specific rules for products established for less than seven days [6]. - The regulations now require disclosure of significant risks related to individual assets that constitute 10% or more of the product's holdings, such as bond defaults or stock suspensions [7]. - For non-standardized assets classified as non-performing, temporary disclosures are not required, but relevant information must be included in quarterly, semi-annual, and annual reports [8]. - The new regulations mandate that liquidation reports include details such as the product's duration, termination date, asset disposal, and remaining asset distribution [9]. - Information disclosure must be consistent and fair to all investors, with specific measures encouraged for elderly investors to enhance their experience in accessing information [10]. - Self-regulatory organizations like the China Trust Industry Association and the China Banking and Insurance Asset Management Association are tasked with establishing and managing disclosure norms for various asset management products [11].