全部撤回！券商资管申请公募牌照，排队队伍清零！

Core Viewpoint - The article highlights the complete withdrawal of several brokerage asset management subsidiaries from the public fund license application process, indicating a significant shift in the industry as the deadline for compliance with new regulations approaches [2][3][6]. Group 1: License Application Status - As of November 28, no brokerage asset management companies are currently in line to apply for public fund licenses, marking a total withdrawal from the application process [3]. - Initially, four companies, including Guotai Junan Asset Management, were in the queue for public fund licenses, but all have now withdrawn their applications [2][6]. - The withdrawal of applications is seen as a response to regulatory signals indicating that no new public fund licenses would be granted to brokerage asset management firms [6]. Group 2: Regulatory Background - The asset management industry is undergoing a transformation due to the 2018 regulations requiring brokerage firms to convert their "public collective" products to comply with public fund standards by the end of 2025 [8]. - The transition has led to various strategies, including changing management to public fund institutions, converting products to private funds, or liquidation [9]. Group 3: Industry Trends - The article notes that only 14 out of 30 brokerage asset management subsidiaries have successfully obtained public fund licenses, with the majority of applications failing to progress [7]. - The trend of transferring management of collective products to affiliated public fund companies is becoming common among brokerage firms, as seen with companies like CITIC Asset Management and GF Asset Management [10]. - Some firms are also exploring partnerships with unrelated fund companies for managing their products, indicating a diversification of management strategies [10][11].