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推动消保关口前移,金融监管总局:机构要将适当产品销售给适当客户
券商中国·2025-07-11 15:30

Core Viewpoint - The Financial Regulatory Bureau has issued the "Measures for the Appropriateness Management of Financial Institution Products," which emphasizes the need for financial institutions to understand products and customers, ensuring suitable products are sold through appropriate channels to the right customers [1][2]. Summary by Sections Introduction of the Measures - The measures aim to enhance the protection of financial consumers' rights and are based on extensive research and public consultation [2]. - The implementation date for these measures is set for February 1, 2026 [2]. Scope of Products Requiring Appropriateness Management - The measures apply to investment products with uncertain returns that may lead to principal loss, as well as insurance products [3]. - Specific investment products include wealth management products, asset management trust products, insurance asset management products, non-principal guaranteed structured deposits, and derivatives offered to clients [3]. Basic Rules for Financial Institutions - Financial institutions are required to understand products and customers, conduct appropriateness matching, and ensure compliance in marketing and sales [4][6]. - There is a new emphasis on the responsibility of financial institutions to supervise third-party marketing partners [6]. Prohibited Actions - The measures prohibit misleading or inducing customers to purchase products through performance manipulation or improper presentation [7]. Differentiation of Investor Types - The measures require financial institutions to classify products by risk level and assess investors' risk tolerance, distinguishing between professional and ordinary investors [8]. - Professional investors include various financial institutions and funds, while ordinary investors must undergo risk assessments and receive appropriate product recommendations [10]. Industry Self-Regulation - Industry self-regulatory organizations are tasked with establishing norms for appropriateness management and overseeing financial institutions' compliance [11][12]. - The Financial Regulatory Bureau will guide these organizations and enhance supervision of financial institutions' adherence to appropriateness obligations [12]. Consumer Awareness - There is a focus on cultivating financial consumers' risk awareness to protect their legitimate rights and interests [13].