Core Viewpoint - The latest regulatory requirements emphasize the establishment of a sound fund sales settlement mechanism to prioritize investor interests and enhance the safety of investor funds [2][4]. Group 1: Fund Subscription Settlement - Fund managers and sales institutions are required to improve technical system investments to enhance the efficiency of fund subscription settlement and reduce the time funds are in transit [4][5]. - For off-site money market funds, confirmation data and settlement data must be sent to sales institutions by 10:00 on the confirmation date, with funds transferred to the fund's registration account by 16:00 on the same day after deducting any fees [4][5]. Group 2: Fund Redemption Settlement - Fund managers must strengthen liquidity risk management and determine redemption settlement times based on the product's investment characteristics and market liquidity, ensuring that the safety of fund assets is prioritized [7]. - Redemption funds for non-money market funds must not be transferred to sales institutions before the next trading day after the redemption request is confirmed, preventing mismatches between asset liquidation and redemption speed [7]. Group 3: Marketing and Promotion Regulations - Fund managers and sales institutions must recognize the importance of a secure fund settlement mechanism and resist "involution" competition, avoiding misleading marketing practices [9]. - The use of terms like "real-time arrival" and "instant redemption" in promotional materials is prohibited to prevent investors from focusing solely on speed without understanding the underlying risks [9][10].