The registration mechanism of public fund products will be optimized, and the period will be shortened from no more than 20 days to 15 days

The Paper's reporter Ge Jia

The registration mechanism for public fund products is expected to be further optimized.

On January 6, the latest institutional supervision briefing obtained by the surging news reporter shows that in order to thoroughly implement the requirements of "decentralization service" and promote the high-quality development of the public fund industry, the registration mechanism of public fund products has been further optimized, the registration efficiency of registration has been continuously improved, and industry institutions have been supported to increase the supply of high-quality products.

The circular, entitled "Deeply Promoting the Simplification of Administration and Decentralization and Further Optimizing the Registration Mechanism for Public Fund Products," specifically mentions two aspects. First, it is necessary to further optimize the registration mechanism of conventional fund products, and the second is to further strengthen the supervision during and after the event to effectively ensure the quality of product registration.

Specifically, in accordance with the basic principle of "lawful, efficient, transparent and classified management", from January 1, 2022, the regulator proposes to further optimize the registration mechanism of conventional fund products and improve the efficiency of review. First, for conventional hybrid and bond fund products that include the rapid registration mechanism, the registration period is shortened from no more than 20 days to 15 days in principle. Second, for conventional active equity, passive equity (broad-based), hybrid and bond fund products that are not included in the rapid registration mechanism, the registration period is shortened from no more than 30 days, 30 days, 45 days and 45 days in principle to 20 days, 20 days, 35 days and 35 days.

In addition, while improving the efficiency of product registration, we will further improve the supervision during and after the event, and consolidate the main responsibility of the compliance risk control of the institution.

First, the fund manager should strictly control the quality of the application materials, and be responsible for the completeness of the application materials, truthfulness, accuracy, completeness, legal compliance, and the commitment to the adequacy of risk disclosure.

Second, fund managers should always adhere to the principle of giving priority to the interests of holders, optimize product design, fully assess the necessity and feasibility of product declarations, effectively increase the supply of high-quality products, and better serve residents' wealth management and the financial needs of the real economy.

Third, the fund custodian should strengthen the review and control of the application materials and earnestly assume the joint fiduciary responsibility.

In the next step, the Securities and Fund Institution Supervision Department will increase the supervision of the quality of product declarations to ensure the smooth and orderly operation of the public fund product registration mechanism. Once it is discovered that fund managers have violated their commitments and deliberately concealed innovative attributes, they should immediately stop the application of the rapid registration mechanism by relevant fund managers and solemnly hold relevant institutions and individuals accountable in accordance with law.

Responsible editor: Yes Dong Dong Photo editor: Zhang Tongze