防范非法证券活动，守护钱袋子。 针对当前层出不穷的非法荐股、假冒机构、场外配资等陷阱， 我部 揭示了其常见手法和主要特 征，并提供了实用的防骗 "小贴士"和维权途径，提醒大家务必选择持牌机构，远离"高收益"诱惑，牢 牢守住自己的"血汗钱"。通过展示 本部今年 真实发生的 2起微信群 荐股陷阱案例，让投资者们深刻认 识到这些非法活动的危害。一位曾经差点陷入 某新媒体平台 网络荐股骗局的投资者感慨道： "还好之 前没轻信那些所谓的'专家'，今天听你们这么一讲，更觉得后怕了，以后一定得提高警惕。" 解读 "新规则"，助力理性启航。 秋意渐浓，金融服务的温度却在持续升温。为积极响应本年度 "保障金融权益 ， 助力美好生活 "金 融教育宣传周的号召，将专业的金融知识送达更多投资者身边， 9月10日，上海静安区北京西路证券营 业部 走进松江区九亭镇新生丽兰广场，与上海久德金属工程有限公司的员工及周边社区的投资者们进 行了一场零距离、有温度、重实效的投资者教育交流活动。 本次活动旨在切实履行金融机构的社会责任，将 "金融为民"的理念落到实处。活动现场，我部围 绕今年宣传周的核心内容，结合企业员工的实际需求，带来了干货满满的 ...

薛军 中国平安人寿山东分公司党委副书记 副总经理 三、审慎行使选择权。在听取公司适当性匹配建议时，要着重关注产品风险等级与自身承受能力的匹配 度，结合家庭财务状况进行审慎决策。需要强调的是，金融消费者始终是风险决策的第一责任人，任何 代为评估行为都可能埋下风险隐患。 公司不会过度搜集客户信息，适当性义务的履行帮助消费者识别风险边界，防控过度消费。这不仅是监 管要求，更是对消费者权益的立体化保护。 负责任的金融机构和理性审慎的金融消费者是金融行业良性发展的基石。金融消费者风险意识提高，有 助于促进金融市场健康发展，公司将以常态化和集中式金融教育宣传为抓手，帮助消费者掌握基础金融 知识，理解适当性原则，携手培育"知风险、懂配置、会选择"的金融消费新生态，为建设中国特色金融 文化贡献专业力量。 一、明确自己需求。买保险前需要清晰认识自己的家庭结构、健康状态和职业风险。是优先配置医疗险 和意外险，还是重点考虑重疾险与寿险保障。 二、坚持诚信原则。公司建议消费者主动提供真实健康信息、如实填写《投保需求分析问卷》，只有详 细了解客户的身体和经济状况、风险偏好、已购买同类保险等情况，才能给出更精准的保障建议。 作为金融为民 ...

在此基础上，公司建立了代理人分级培训机制，针对不同等级代理人设计差异化课程，并通过定期培训 测试，方可销售相应级别的产品。另外公司还建立销售行为可回溯机制，公司通过录音录像等技术手段 记录和保存保险销售过程关键环节，实现销售行为可回访、重要信息可查询、问题责任可确认，对代理 人销售情况、客户签约流程进行录音录像抽查，重点核查是否明确告知产品风险等级与客户匹配情况。 逯星火 中国平安人寿山东分公司副总经理 为完善需求匹配，新契约回访新增适当性问卷，问卷内容包括对投保计划与客户告知的保障需求、风险 承受能力、保费承担能力是否匹配进行确认，核实代理人是否对客户前期已购买同类保险的情况进行充 分沟通，以及投保需求分析问卷是否由客户亲笔签署，同时重点核查是否存在代理人违规承诺收益或损 失承担、夸大产品收益或保障范围等误导销售行为。特别针对投保人年龄与缴费期限之和达到75岁的保 单，将启动双重保护机制：在投保环节增设专项提示，在双录过程中增加风险等级确认环节，重点核查 客户对产品特性及缴费义务的认知程度。 适当性管理宗旨是金融机构了解产品和客户，将适当的产品通过适当的渠道销售给适合的客户，在产品 销售过程中，代理人队伍的 ...

Core Viewpoint - The year 2025 is identified as a crucial transformation year for the wealth management industry, driven by regulatory changes and increased competition among financial institutions [1] Regulatory Changes - The "Commercial Banks Agency Sales Business Management Measures" will be implemented on October 1, 2023, emphasizing the responsibilities of banks as agency sales institutions [2] - The "Financial Institutions Product Appropriateness Management Measures" will take effect on February 1, 2026, focusing on consumer rights protection and risk identification [3] Market Dynamics - The public fund industry is experiencing a decline in management fees, with a projected 8% decrease in overall management fee income from 2023 to 2024, leading to reduced tail commission income [5][6] - The traditional agency sales model, heavily reliant on tail commissions, is under pressure as major players like China Merchants Bank and Ant Fund report revenue declines despite increased sales volumes [7] Competitive Landscape - The wealth management product distribution market is witnessing a significant reshuffle, with many small and medium-sized institutions exiting the market due to compliance issues and the need for transformation [7] - The proportion of wealth management products distributed by established financial institutions is increasing, with 89.61% of the market share held by 32 licensed wealth management companies as of mid-2025 [8] Strategic Shifts - Wealth management institutions are increasingly focusing on direct sales and expanding their distribution channels, with a notable increase in the number of cooperative distribution institutions [9][10] - The industry is moving towards a more diversified and digital approach, with a shift from sales-driven to service-oriented models, emphasizing investor education and tailored product offerings [11][12]

Regulatory Framework - The "Financial Institutions Product Suitability Management Measures" emphasizes the dual principles of "seller's due diligence and buyer's self-responsibility" to ensure appropriate product sales to suitable clients[3] - The measures will take effect on February 1, 2026, and aim to enhance investor education and break rigid repayment structures[3][7] Impact on Financial Institutions - Compliance costs for banks in the wealth management sector are expected to rise due to stricter suitability matching requirements, necessitating upgrades in information systems and human resources[15][16] - The measures will lead to improved client data quality, enhancing product design capabilities within the banking wealth management industry[3][15] Investor Responsibility - Investors are required to understand products and make informed decisions based on their risk preferences, with a focus on providing accurate information to financial institutions[14] - The measures stipulate that investors must undergo risk assessments, limiting the frequency of such assessments to twice a day and a maximum of eight times within twelve months[14] Market Dynamics - The proportion of high-risk wealth management products is anticipated to increase, as the measures clarify the responsibilities of both buyers and sellers, potentially leading to a rise in equity investments[19][20] - As of the end of 2024, only 0.27% of wealth management products were rated as high-risk, despite over 20% of investors having a risk tolerance above level four[20][22] Future Projections - It is estimated that by 2026, the proportion of equity assets in wealth management products could increase by 1%, translating to an additional RMB 320 billion entering the A-share market[22]

Core Viewpoint - The newly issued "Financial Institutions Product Appropriateness Management Measures" aims to enhance consumer protection and promote healthy financial market development by establishing clear appropriateness standards for financial products [1][2]. Group 1: Appropriateness Management - Appropriateness management is a fundamental principle in financial services, ensuring that suitable consumers purchase appropriate products to mitigate risks associated with product misalignment [1]. - Current issues in the market include superficial customer assessments, insufficient product information disclosure, and inappropriate product recommendations, which can lead to consumer risk misperceptions and potential market instability [1]. Group 2: Implications for Consumers - The new measures will create a risk firewall for consumers by ensuring that appropriate products are sold through suitable channels to the right customers, thereby reducing the likelihood of misleading sales [2]. - Consumers will receive more accurate risk warnings and matching suggestions, enhancing their understanding of complex financial products [2]. Group 3: Implications for Financial Institutions - The measures serve as a guiding framework for financial institutions, requiring them to understand both products and customers, which can enhance compliance capabilities and service professionalism [2]. - Institutions will need to categorize investment products by risk levels and differentiate between professional and ordinary investors, which may seem to increase operational steps but ultimately fosters a more responsible financial environment [2]. Group 4: Implementation Timeline - The measures will take effect on February 1, 2026, allowing financial institutions ample preparation time for a smooth transition to the new standards [3].