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独家!基金托管牌照门槛抬高,7家券商6家撤回!
券商中国· 2025-08-19 04:12
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 "withdrawal wave" among institutions that could not meet the new standards [2][6][9]. Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) has raised the entry thresholds for fund custody qualifications, requiring commercial banks to have a net asset of at least 500 billion and securities companies to have at least 300 billion [9][10]. - The new regulations also stipulate that institutions must have a regulatory rating of level 2 or A class or above for the past three years and demonstrate substantial operational capabilities [10]. 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August 15, only Dongwu Securities remains in the queue for fund custody qualifications, while six other brokerages have withdrawn their applications due to inability to meet the new requirements [2][4][6]. - The withdrawal trend began in July when several institutions received regulatory guidance to retract their applications [2][6]. Group 3: Current Landscape - Currently, there are 68 institutions with fund custody qualifications, including 36 banks and 30 brokerages, indicating a concentration of custody business among larger institutions [7][12]. - The new regulations have led to a situation where the majority of small and medium-sized brokerages lack fund custody licenses, further consolidating the market among larger players [12].
基金托管业务将迎新规!完善准入体系,压实托管人责任
Bei Jing Shang Bao· 2025-04-03 14:49
Core Viewpoint - The China Securities Regulatory Commission (CSRC) plans to revise the "Securities Investment Fund Custody Business Management Measures" to enhance the responsibilities of custodians and protect investor interests, aiming to improve the regulatory framework and promote healthy market development [1][2]. Group 1: Revision of Custodian Entry Requirements - The revision will tighten entry requirements for custodians, focusing on substantial operational capabilities and compliance risk control, with a minimum net asset requirement of 50 billion yuan for commercial banks and 30 billion yuan for securities firms [3][6]. - The revised measures will increase the total number of chapters from six to seven and the number of articles from 43 to 61, with 25 articles being revised and 18 new articles added [2][3]. Group 2: Addressing Custodian Responsibilities - The CSRC aims to address issues where some custodians are "custodians without management" or "unable to manage," highlighting the need for enhanced due diligence, investment supervision, and information disclosure [5][6]. - Specific measures include strengthening the verification of information provided by fund managers, enhancing client and product entry requirements, and clarifying the responsibilities of custodians in risk disclosure and reporting [5][6]. Group 3: Improvement of Exit Mechanisms - The revised measures will establish a more orderly market mechanism for exiting custodians, detailing conditions for license cancellation and ensuring a smooth transition for custodians who no longer meet entry requirements [6]. - The revision will also allow leading custodians to establish wholly-owned subsidiaries dedicated to custody services, reinforcing the responsibilities of parent companies [6].