为规范资产管理信托产品、理财产品、保险资管产品的信息披露行为，强化投资者合法权益保护， 近日，金融监管总局发布《银行保险机构资产管理产品信息披露管理办法》（以下简称《办法》）。 据了解，《办法》回应了行业痛点和市场关切，立足"同类业务、相同标准"，统一明确了资产管理 信托产品、理财产品、保险资管产品信息披露的基本原则、责任义务、共性内容及内部管理要求，对三 类产品的信息披露行为进行了系统规范，督促机构严格履行信义义务，充分保障投资者的知情权和选择 权，是我国资产管理产品信息披露领域的一次重要的制度创新和完善。 《金融时报》记者了解到，《办法》将于2026年9月1日正式施行，为银行保险机构预留了8个月左 右的调整过渡期，以便各方稳妥推进产品文本修改、系统改造对接等工作。 "《办法》正式公布，标志着银行理财、信托、保险资管这三类近百万亿元规模的产品进入统一、 强化的信息披露新阶段。"招联首席研究员、上海金融与发展实验室副主任董希淼在接受《金融时报》 记者采访时表示，通过制度强制提升透明度，《办法》不仅保护投资者，也为负责任、专业能力强的资 产管理机构创造更公平的竞争环境，将推动资管行业加快迈向高质量发展。 三类产 ...

你是否会遇到这些问题，资管产品收益找不到，看不懂，收益显示高、但拿不到？ 针对这些金融产品的信息披露问题，近日，金融监管总局发布《银行保险机构资产管理产品信息披露管理办法》（以下简称 《办法》），明确了信托产品、理财产品、保险资管产品的信息披露基本原则、责任义务、共性内容及内部管理要求。 实际上，早在今年5月，国家金融监督管理总局就发布过《办法》的征求意见稿，从实际落地情况来看，正式的《办法》相比征 求意见稿更加完善，同时补充了多个具体情况下的操作指引。《办法》也给予了资管机构8个月的过渡期，将于2026年9月1日开 始施行。 具体来看，有以下十大重点变动： 4、 修订：对于非现金管理类产品，应当披露本报告期期末的产品份额净值、份额累计净值和资产净值，本报告期收益表现情 况、收益分配情况；对于现金管理类产品，应当披露本报告期期末的资产净值，本报告期的产品年化收益率情况。 解读：新增现金管理类产品年化收益披露要求。记者查阅多分现金管理类产品的季度报告发现，目前对产品期末的资产净值均 有统一披露，但仅有部分报告披露产品收益情况，且标准不一，有近一个月、三个月、年初以来等，较少披露年化收益。 5、 修订：对于现金管 ...

21世纪经济报道 吴霜 你是否会遇到这些问题，资管产品收益找不到，看不懂，收益显示高、但拿不到？ 针对这些金融产品的信息披露问题，近日，金融监管总局发布《银行保险机构资产管理产品信息披露管理办法》（以下简称 《办法》），明确了信托产品、理财产品、保险资管产品的信息披露基本原则、责任义务、共性内容及内部管理要求。 实际上，早在今年5月，国家金融监督管理总局就发布过《办法》的征求意见稿，从实际落地情况来看，正式的《办法》相比征 求意见稿更加完善，同时补充了多个具体情况下的操作指引。《办法》也给予了资管机构8个月的过渡期，将于2026年9月1日开 始施行。 具体来看，有以下十大重点变动： 1、 新增：为资产管理产品信息披露义务人披露信息出具审计意见、法律意见等文件的专业机构应当勤勉尽责，所出具的文件不 得有虚假记载、误导性陈述或者重大遗漏。 解读：压实资管机构信息披露责任，提升产品运作的透明度和契约的稳定性。 3、 删掉：第十三条 资产管理产品可以不披露业绩比较基准。补充：除本办法第二十条第三款情形外，资产管理产品可以不披 露业绩比较基准。即，公募产品披露过往业绩时应当同时披露产品成立时间。公募产品成立不足一个月披 ...

转自：智通财经 【金监总局下发银行保险机构资管产品信披新规：关注5大要点 防止"业绩昙花一现"】智通财经12月25 日电，国家金融总局下发《银行保险机构资产管理产品信息披露管理办法》，《办法》立足"同类业 务、相同标准"，统一明确了资产管理信托产品、理财产品、保险资管产品信息披露的基本原则、责任 义务、共性内容及内部管理要求，对三类产品的信息披露行为进行了系统规范，督促机构严格履行信义 义务，充分保障投资者的知情权和选择权。 相比于征求意见稿，正式稿有五大修改点： 一是删除销售 时信息披露义务人强制披露"托管协议"； 二是增加强制披露产品业绩比较基准的情形； 三是增加定期 报告的编制要求； 四是细化现金管理类产品和非现管类产品的净值展示方式； 五是新增和豁免临时报 告披露情形。（智通财经 王蔚） 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

Regulatory Developments - The Financial Regulatory Bureau issued a draft management method for information disclosure of asset management products, aiming to enhance transparency throughout the product lifecycle, ensuring clear understanding of sales, risks, and returns [1] Insurance Industry Trends - The expected reduction in the predetermined interest rate for life insurance may occur as early as the third quarter, following recent decreases in the loan market quotation rate (LPR) and bank deposit rates [2] - The third batch of long-term investment pilot institutions for insurance funds is being approved, including several small and medium-sized insurance companies, marking a new breakthrough in the number and type of participating institutions [3] Investment Activities - Insurance funds accelerated their equity market investments in Q1 2025, increasing stock investments by approximately 390 billion yuan, the largest quarterly increase in recent years, with a stock holding ratio rising to 8.37% [4] - A new equity investment fund, the Ping An Silver Age Equity Investment Fund, was established in Beijing with a capital contribution of 6 billion yuan, focusing on private equity investments and asset management [7] Corporate Actions - Ancheng Insurance announced the unconditional transfer of 18.77% of its shares to Chongqing Development Investment Co., Ltd., with the process of notifying shareholders completed [6] - Ping An Life appointed Shi Weiyu as the new general manager, aiming to enhance corporate governance and drive high-quality development, with the life and health insurance business showing a 5% increase in operating profit year-on-year and a 34.9% increase in new business value [8] Executive Changes - Sheneng Property Insurance has approved two new vice presidents, completing its core management structure with one general manager and four vice presidents, achieving nearly 100 million yuan in net profit in Q1 [9]

Core Viewpoint - The National Financial Regulatory Administration has drafted the "Management Measures for Information Disclosure of Asset Management Products of Banking and Insurance Institutions (Draft for Comments)" to enhance transparency and standardization in the asset management industry [1][2][3] Group 1: Regulatory Changes - The draft aims to establish a unified information disclosure system for asset management products, addressing the lack of specialized regulations and inconsistent standards across different products [1][2] - The introduction of the draft marks a significant advancement in the regulatory framework for insurance asset management products since the 2018 guidelines [1][3] Group 2: Transparency and Investor Protection - The draft is expected to improve the transparency of the asset management industry, allowing for more standardized and clear product information [4][5] - It emphasizes investor protection by ensuring that investors have a comprehensive understanding of product risks and characteristics, thereby reducing investment risks [4][6] Group 3: Information Disclosure Requirements - The draft specifies clear requirements for the frequency, content, and channels of information disclosure, mandating that disclosures be in "clear and understandable Chinese" [3][4] - It introduces the concept of "penetrating disclosure" to prevent misleading expectations regarding performance benchmarks, clarifying that past performance does not guarantee future results [4][5] Group 4: Investor Education and Communication - The draft highlights the need for asset management institutions to enhance investor education and communication, particularly in improving financial literacy among investors [7][8] - Institutions are encouraged to establish diverse communication channels and proactively engage with investors, especially during significant risk events or performance fluctuations [7][8]

5月23日，金融监管总局就《银行保险机构资产管理产品信息披露管理办法（征求意见稿）》（以下简称 《办法》）公开征求意见。 金融监管总局有管司局负责人强调，《办法》按照资管产品生命周期，对募集、存续、终止各环节进行全面规 范，引导行业将信息披露融入业务全过程，实现产品情况"三清"：一是让产品销售"看得清"，二是让产品风 险"厘得清"，三是让产品收益"算得清"。 规范三类资管产品信披行为 起草《办法》是为了规范资产管理信托产品、理财产品、保险资管产品的信息披露行为，推动同类业务实施统 一监管标准，强化投资者合法权益保护。 "当前，资产管理信托产品、理财产品、保险资管产品均无专门的信息披露监管制度，现行要求分散在不同制 度中，存在标准不完全一致等问题，亟需构建适合三类资管产品特点的信息披露制度，统一监管规则，强化信 息披露行为监管。"金融监管总局有关司局负责人指出。 具体来看，《办法》包括总则、资产管理产品信息披露的一般规定、资产管理产品信息披露要求、资产管理产 品信息披露的内部管理、监督管理和法律责任和附则六章内容。对资产管理信托产品、理财产品、保险资管产 品的信息披露行为进行了系统规范，全面覆盖产品募集、存续、 ...

Core Viewpoint - The Financial Regulatory Bureau is drafting a management method for information disclosure of asset management products in banking and insurance sectors to establish unified regulatory standards and enhance investor protection [1][2]. Group 1: Information Disclosure Management - The proposed method aims to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, addressing the lack of a dedicated disclosure regulation [1][3]. - The method will regulate the entire lifecycle of asset management products, including fundraising, ongoing management, and termination, ensuring clarity in product information [1][2]. Group 2: Specific Requirements - During the fundraising phase, the method will specify requirements for product documentation, including performance benchmarks, to ensure transparency in product sales [2][3]. - In the ongoing management phase, it mandates accurate and comprehensive reporting of past performance and timely disclosure of significant events to clarify product risks [2][3]. - For the termination phase, it requires disclosure of fees and profit distribution in the final announcements and liquidation reports to ensure clarity in product returns [2][3]. Group 3: Performance Benchmark Disclosure - The method allows asset management products to not disclose performance benchmarks, providing flexibility to managers and avoiding unnecessary formalism [2][3]. - For products that do disclose performance benchmarks, strict requirements will be set to ensure that the benchmarks are relevant and accurately reflect the investment strategy and underlying assets [3][4]. Group 4: Regulatory Consistency - The method emphasizes a unified standard for information disclosure across the three types of products, enhancing regulatory consistency while respecting the unique characteristics of each product type [3][4]. - It distinguishes between public and private products, imposing stricter disclosure requirements on public products to enhance transparency for less knowledgeable investors [4][5].

Core Viewpoint - The Financial Regulatory Bureau has released a draft for public consultation on the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, thereby enhancing investor protection [1][2]. Group 1: Regulatory Framework - The draft includes six chapters covering general provisions, disclosure requirements, internal management, supervision, legal responsibilities, and appendices, systematically regulating the information disclosure behavior of asset management products throughout their lifecycle [2][4]. - The draft aims to unify regulatory standards for similar businesses, addressing the current lack of a dedicated information disclosure regulatory system for asset management products [2][6]. Group 2: Disclosure Requirements - The draft specifies disclosure channels, responsibilities, methods, prohibited behaviors, and text requirements for asset management products, emphasizing the need for consistent disclosure channels [3][4]. - It mandates that public products must disclose information through a platform recognized by the National Financial Supervision Administration, while private products should disclose through agreed channels with investors [3][4]. Group 3: Performance Benchmarking - The draft outlines detailed requirements for performance benchmarking, including the necessity to clarify the relationship between the benchmark and investment strategies, underlying assets, and market performance [5][6]. - It states that if a performance benchmark is disclosed, it must be accompanied by a clear warning that it does not represent expected returns or guarantees on future performance [5][6]. Group 4: Transition Period - The implementation of the draft is expected to have a six-month transition period to allow banking and insurance institutions to adjust product documentation and systems accordingly [6]. - The draft distinguishes between public and private products, with stricter disclosure requirements for public products to enhance transparency, while allowing more flexibility for private products based on contractual agreements [6].

让产品销售"看得清"，让产品风险"厘得清"，让产品收益"算得清"。 5月23日，金融监管总局就《银行保险机构资产管理产品信息披露管理办法（征求意见稿）》（以下简称《办 法》）公开征求意见。 规范三类资管产品信披行为 起草《办法》是为了规范资产管理信托产品、理财产品、保险资管产品的信息披露行为，推动同类业务实施统 一监管标准，强化投资者合法权益保护。 "当前，资产管理信托产品、理财产品、保险资管产品均无专门的信息披露监管制度，现行要求分散在不同制 度中，存在标准不完全一致等问题，亟需构建适合三类资管产品特点的信息披露制度，统一监管规则，强化信 息披露行为监管。"金融监管总局有关司局负责人指出。 具体来看，《办法》包括总则、资产管理产品信息披露的一般规定、资产管理产品信息披露要求、资产管理产 品信息披露的内部管理、监督管理和法律责任以及附则六章内容。对资产管理信托产品、理财产品、保险资管 产品的信息披露行为进行了系统规范，全面覆盖产品募集、存续、终止各环节。 明确资管产品信披的禁止行为 在"资产管理产品信息披露的一般规定"章节中，《办法》明确了信息披露渠道、责任、方式、禁止行为和文本 要求。 一直以来，资管产品就 ...