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证监会就《证券投资基金托管业务管理办法(修订草案征求意见稿)》公开征求意见
证监会发布· 2025-04-03 10:15
Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Securities Investment Fund Custody Business Management Measures" to enhance regulation, prevent risks, and promote high-quality development in the fund custody industry, while also protecting investor interests [1][2]. Summary by Sections Revision Background - The current custody measures were jointly revised and published by the CSRC and the former China Banking and Insurance Regulatory Commission in July 2020, positively impacting the fund custody industry and strengthening the responsibilities of fund custodians [2]. Key Issues Identified - Recent changes in industry conditions and regulatory environments have revealed new issues, such as increased industry concentration, some custodians deviating from their core business, and an incomplete market exit mechanism for custodians [2]. Main Content of the Revision - **Improved Entry Thresholds**: Strengthening requirements for substantive operational capabilities and compliance risk control, supporting qualified entities with strong potential in the custody field to apply for custody qualifications [2]. - **Enhanced Operational and Risk Isolation Requirements**: Requiring applicants to commit to focusing on their core responsibilities and ensuring the separation of fund assets from other custody assets [2]. - **Increased Custodian Responsibilities**: Custodians must verify the information provided by fund managers, enforce client and product entry requirements to avoid "problematic custody," and clearly disclose risks [2]. - **Improved Exit Mechanism**: Establishing clear conditions for license cancellation, including lack of substantive operations and voluntary deregistration, to create an orderly market mechanism [2]. - **Allowing Establishment of Subsidiaries**: Permitting high-quality custodians to set up wholly-owned subsidiaries dedicated to custody business, subject to relevant financial regulatory requirements [2]. Public Feedback - The CSRC welcomes feedback from all sectors of society and will consider these opinions for further revisions before implementation [3].