基金托管牌照门槛抬高，7家券商6家撤回！

Core Viewpoint - The number of brokerages applying for fund custody licenses has significantly decreased from seven to one due to heightened regulatory entry requirements, leading to a wave of withdrawals from applications [1][2][4][7]. Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has raised the entry thresholds for fund custody qualifications, particularly increasing the net asset requirements for commercial banks to 500 billion and for securities companies to 300 billion [8][9]. - The new regulations also require institutions to have a regulatory rating of at least level 2 or A class over the past three years, along with substantial operational capabilities [8][9]. Group 2: Withdrawal of Applications - As of August 15, only Dongwu Securities remains in the queue for fund custody qualifications, while six other brokerages have withdrawn their applications due to inability to meet the new requirements [3][4][5]. - The withdrawal trend began in July, with institutions receiving regulatory guidance to retract their applications [1][5]. Group 3: Current Landscape - Currently, there are 68 institutions with fund custody qualifications, including 36 banks and 30 brokerages, indicating that most small and medium-sized brokerages still lack custody licenses [5][11]. - The majority of fund custody business is concentrated among a few large institutions, with national commercial banks and a few large securities firms managing 80% to 90% of public and private securities investment funds [11].