基金托管业务规则修订

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证监会最新发布,事关证券投资基金托管业务规则
券商中国· 2025-04-03 12:55
Core Viewpoint - The China Securities Regulatory Commission (CSRC) is seeking public opinion on the revised "Securities Investment Fund Custody Business Management Measures," aiming to optimize the fund custody industry, enhance custodian responsibilities, and protect investor interests [1][2]. Group 1: Revised Entry Requirements - The revised measures strengthen the entry threshold for fund custodians, requiring substantial operational capabilities and sustainable business models, with total asset scale or public fund sales ranking among the industry leaders [4]. - The net asset requirement is set at a minimum of 50 billion RMB for commercial banks and 30 billion RMB for securities companies and other financial institutions [4]. Group 2: Focus on Core Responsibilities - The measures emphasize the need for custodians to focus on their primary responsibilities and effectively conduct fund custody business, ensuring that fund assets are kept separate from other custodial assets [5]. - Custodians are required to verify information provided by fund managers and take necessary actions if cooperation is not provided [5][6]. Group 3: Strengthening Custodian Accountability - The revised measures aim to prevent "custody without management" and "ill-managed custody" by clarifying the responsibilities of custodians and enhancing client and product entry requirements [6]. - Custodians must report significant anomalies to the CSRC on the same day they are discovered, reinforcing their reporting obligations [6]. Group 4: Exit Mechanism Clarification - The measures clarify the exit mechanism for custodians, specifying conditions under which a custodian's qualification may be revoked, such as failing to maintain an average fund custody asset scale of 5 billion RMB for 36 consecutive months [8]. - The responsibilities of custodians after termination are detailed, including the appointment of temporary custodians and the responsibilities during the transition period [8]. Group 5: Allowing Subsidiaries for Custody Business - High-quality custodians are permitted to establish wholly-owned subsidiaries dedicated to custody business, provided they meet specific performance and compliance criteria [9]. - The capital requirement for these subsidiaries is lowered to 5 billion RMB, with the parent company required to support the subsidiary's operational responsibilities [9]. Group 6: Transitional Arrangements for Existing Custodians - Existing custodians will be allowed to apply for custody qualifications under the current measures, ensuring a smooth transition to the revised requirements [10]. - Existing private funds that do not meet the new "one custodian" requirement must complete rectification within three years, barring special circumstances approved by the CSRC [11].