强化三类资管产品信披管理！金融监管总局最新发布

Core Viewpoint - The Financial Regulatory Bureau has issued the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, ensuring investor rights and obligations are met [1][3]. Group 1: Regulatory Framework - The new measures will take effect on September 1, 2026, allowing approximately eight months for institutions to adjust and modify product documentation and systems [2]. - The measures were developed after a public consultation period from May 23 to June 23, with feedback being carefully considered and incorporated into the final document [3]. Group 2: Information Disclosure Requirements - The measures establish general provisions for information disclosure, including channels, responsibilities, methods, prohibited behaviors, and text requirements [4]. - Prohibited behaviors include making unauthorized profit guarantees, predicting actual investment performance, and using non-comparable or inaccurate data for performance comparisons [4]. Group 3: Lifecycle Information Disclosure - The measures categorize information disclosure into four aspects: product fundraising, periodic disclosure, temporary disclosure, and termination disclosure, detailing specific requirements for each [5]. - Product managers are generally not allowed to adjust performance benchmarks without following strict internal approval processes and must disclose any adjustments in periodic reports [5]. Group 4: Differentiated Treatment of Products - The measures respect the objective differences among the three types of products and make targeted arrangements, with stricter disclosure requirements for public offerings compared to private offerings [6]. - Public products must disclose information through unified channels, while private products can use agreed-upon channels with investors [6]. Group 5: Self-Regulatory Norms - The China Trust Industry Association and other relevant bodies are tasked with developing detailed self-regulatory norms for each product type, creating a "1+3" information disclosure rule system [7].