Core Viewpoint - The recent draft of the "Regulations on the Sales Behavior of Publicly Raised Securities Investment Funds" aims to strengthen investor protection and standardize industry practices, addressing misleading sales activities and ensuring the best interests of investors are prioritized [1][11]. Group 1: Fund Promotion and Marketing - Fund managers and sales institutions must objectively and comprehensively present fund performance, ensuring that performance periods exceed six months and avoiding annualized displays for periods under one year [2][3]. - Fund performance rankings should be based on publicly available data from fund evaluation agencies for periods of three years or more, including necessary details such as agency name and evaluation date [2]. - The use of terms like "positive return" or "probability of positive return" is prohibited to prevent misleading investors about risks [2]. Group 2: Sales Practices and Accountability - Fund managers and sales institutions are required to avoid exaggerated claims and misleading language in their promotions, particularly regarding fund size and growth [3]. - A mechanism for accountability will be established for short-term sales behaviors, such as inducing investors to frequently redeem or subscribe to funds [1][10]. Group 3: Live Streaming Regulations - Fund managers and sales institutions must ensure compliance in live streaming activities, including signing agreements with platforms and ensuring that only qualified personnel conduct fund-related discussions [5][7]. - Live streaming platforms must disable tipping features, and all promotional content must adhere to relevant legal standards [6][7]. Group 4: Disclosure of Fees and Information - Fund managers and sales institutions must provide clear and comprehensive information about various fees associated with fund purchases, ensuring investors have adequate time to review this information [8][9]. - Different share classes must have their fee structures disclosed, and sales service fees must be clearly defined [9]. Group 5: Performance Assessment Optimization - The performance assessment mechanisms for sales activities should align with long-term objectives, focusing on investor outcomes rather than short-term sales metrics [10]. - Key performance indicators should include investor profitability and retention, with a minimum assessment period of one year for sales activities and three years for investor outcomes [10].