强化治理机制 实施18年后，《信托公司管理办法》迎来首次修订。 为进一步推动信托行业坚持信托本源，深化改革转型，有效防控风险，9月12日，国家金融监督管理总 局修订发布《信托公司管理办法》，将于2026年1月1日起施行。 明确信托公司业务范围 新修订的《办法》明确，信托公司业务范围共3项，包括信托业务、资产负债业务和其他业务。 具体来看，原《办法》中5项信托业务调整为资产服务信托、资产管理信托和公益慈善信托3项。固有资 产负债业务方面，在固有负债项下增加向股东及股东关联方申请流动性借款、定向发债，明确可以向信 托业保障基金公司申请流动性支持借款，在固有资产项下取消对外提供担保业务。 在其他业务方面，金融监管总局有关司局负责人就相关问题答记者问时表示，此次修订增加了"为金融 机构及其管理的资产管理产品、资产服务信托、公益慈善信托等提供投资顾问、咨询、托管及其他技术 服务""为资产管理产品提供代理销售服务"，将原《办法》中"受托经营国务院有关部门批准的证券承销 业务"调整为"为企业发行直接融资工具提供财务顾问、受托管理人等服务"。 此外，结合实际取消了"作为投资基金或者基金管理公司的发起人从事投资基金业务""代保 ...

● 本报记者 石诗语 吴杨 实施18年后，《信托公司管理办法》迎来首次修订。 具体来看，原《办法》中5项信托业务调整为资产服务信托、资产管理信托和公益慈善信托3项。固有资 产负债业务方面，在固有负债项下增加向股东及股东关联方申请流动性借款、定向发债，明确可以向信 托业保障基金公司申请流动性支持借款，在固有资产项下取消对外提供担保业务。 在其他业务方面，金融监管总局有关司局负责人就相关问题答记者问时表示，此次修订增加了"为金融 机构及其管理的资产管理产品、资产服务信托、公益慈善信托等提供投资顾问、咨询、托管及其他技术 服务""为资产管理产品提供代理销售服务"，将原《办法》中"受托经营国务院有关部门批准的证券承销 业务"调整为"为企业发行直接融资工具提供财务顾问、受托管理人等服务"。 此外，结合实际取消了"作为投资基金或者基金管理公司的发起人从事投资基金业务""代保管及保管箱 业务"等4项中间业务。中国信托业协会特约研究员邓婷向记者表示，这些业务被取消的原因在于它们或 与信托主业关联度低，或与现行监管政策存在冲突，容易导致信托公司偏离核心定位。 强化治理机制 针对部分信托公司公司治理失衡、股东干预经营等问题，新修 ...

Core Viewpoint - The National Financial Supervision Administration has revised the "Trust Company Management Measures," which will take effect on January 1, 2026, marking the first revision in 18 years, aimed at promoting the trust industry's core functions, deepening reform, and effectively preventing risks [1][4][9] Summary by Sections General Provisions - The revised measures consist of 8 chapters and 75 articles, covering general principles, establishment and changes of institutions, corporate governance, internal control and risk management, business scope and operational rules, supervision and management, risk disposal and market exit, and supplementary provisions [4] Business Scope - The business scope of trust companies has been narrowed to three categories: trust business, asset liability business, and other business [5] - Trust business has been adjusted from five categories to three: asset service trust, asset management trust, and public welfare trust [6] Internal Control and Risk Management - Trust companies are required to strengthen shareholder behavior management and conduct regular evaluations of major shareholders [8] - The board of directors is responsible for compliance management and risk control, and a chief compliance officer must be appointed to oversee internal control and compliance management systems [8] Implementation and Transition - The revised measures will replace the original measures established in 2007, which have become outdated and insufficient for current risk prevention and regulatory needs [9] - Trust companies must develop rectification plans for existing businesses that do not comply with the new measures and gradually reduce their scale [9]

（原标题：最新！信托公司管理办法正式发布！） 为贯彻落实中央金融工作会议精神，推动信托行业坚持信托本源，深化改革转型，有效防控风险，金融 监管总局修订发布了《信托公司管理办法》。主要修订内容如下： 一是聚焦主责主业，坚持信托本源。结合信托公司业务实践，突出信托主业，调整业务范围。明确立足 受托人定位，规范开展资产服务信托、资产管理信托和公益慈善信托业务。坚持"卖者尽责，买者自 负；卖者失责，按责赔偿"，打破刚性兑付。 修订发布《信托公司管理办法》答记者问 二是坚持目标导向，强化公司治理。明确信托公司要深化党建与公司治理有机融合。加强股东行为和关 联交易管理。建立科学的内部考核机制和激励约束机制。推行受益人合法利益最大化的价值取向，加强 信托文化建设。 三是加强风险防控，规范重点业务环节。督促信托公司以受托履职合规性管理和操作风险为重点加强全 面风险管理。明确信托业务全过程管理要求。 四是强化信托监管要求，明确风险处置机制。提高信托公司最低注册资本。强化信托公司资本和拨备管 理。加强行为监管和穿透监管。落实分级分类监管要求。提升风险处置和市场退出的约束力和操作性。 下一步，金融监管总局将加强督促指导，推动信托公 ...

Core Viewpoint - The Financial Regulatory Bureau has revised the "Management Measures for Trust Companies," which will take effect on January 1, 2026, focusing on core responsibilities, risk prevention, and enhancing corporate governance in the trust industry [1][2]. Group 1: Key Revisions - The revised measures emphasize the core business of trust companies, clarifying their roles as trustees and regulating asset service trusts, asset management trusts, and charitable trusts [1][4]. - The principle of "seller responsibility, buyer risk" is reinforced, breaking the rigid repayment structure [1][4]. - Trust companies are required to deepen the integration of party building and corporate governance, enhancing shareholder behavior and related party transaction management [1][4]. Group 2: Risk Management and Governance - Trust companies must strengthen comprehensive risk management, focusing on compliance and operational risks throughout the trust business process [1][22]. - The minimum registered capital for trust companies will be increased, and there will be stricter capital and provision management requirements [1][22]. - A scientific internal assessment and incentive mechanism must be established to maximize the legitimate interests of beneficiaries [1][19]. Group 3: Regulatory Requirements - The measures specify enhanced regulatory requirements, including behavior supervision and penetrating regulation, to improve risk disposal and market exit mechanisms [1][22][45]. - Trust companies are required to establish a recovery and disposal plan mechanism, which must be updated regularly and approved by the regulatory authority [1][50]. - The regulatory authority will implement a tiered and classified supervision approach based on the risk status and systemic impact of trust companies [1][61].