China's network finance and economics on March 4 (reporter Lu Kai) in the middle of last month, by the official disclosure of CITIC Deng, as of the end of 2021, the number of trust product stock investors reached 1.2614 million, an increase of 55.35% over the beginning of the year. Among them, there were 1.2116 million individual investors, an increase of 56.02% over the beginning of the year. In the face of the explosive growth in the number of individual investments, it is more critical for the trust industry to fulfill the responsibility of protecting the rights and interests of consumers to the greatest extent in accordance with regulatory requirements and under the premise of doing a good job in investment and education.
On the occasion of 3.15 in 2022, when China Net Finance visited a number of trust companies and industry institutions, it found that in recent years, especially after the introduction of the new asset management regulations in 2018, the regulator has put forward the concept of "sellers are responsible and buyers are responsible", so that all asset management fields, including the trust industry, put the protection of consumers/investors' rights and interests in the first place. As the relevant person in charge of Ping An Trust said in an interview with China Net Finance: "The starting point of the trust company's entrusted service is to create value for customers and society, to carry out in-depth financial knowledge publicity and education for the public and investors, and to protect the rights and interests of consumers, which is the social responsibility that financial institutions should fulfill." ”
"Practice responsibility, control risks, tree brand" trust "consumer protection" aways online
Practice has proved that financial institutions, as the forefront of the protection of the rights and interests of financial consumers, effectively protect the legitimate rights and interests of financial consumers, enhance the confidence of financial consumers, and maintain financial security and stability, which is not only the endogenous need of financial institutions to achieve their own sustainable development, but also an inevitable requirement for promoting social fairness and justice and social harmony and promoting common prosperity.
In March 2021, the China Trust Industry Association said that it would strictly implement the work deployment and requirements of the Banking and Insurance Regulatory Commission, take multiple measures to promote the normalization of investor education, continuously popularize trust financial knowledge, promote the construction of trust culture, enhance the public's financial literacy, prevent and resolve financial risks, and serve the people's needs for a better life.
At the same time, the association answered the question "Will investors conduct regular investor education for trust companies?" When asked, he said that the Self-Discipline Convention on the Protection of Trust Consumers' Rights and Interests stipulates that trust companies should strengthen the education and training of trust consumer rights and interests protection employees, and should carry out trust consumer rights protection training activities covering all departments and levels of the company at least once a year to improve employees' awareness and ability to protect the rights and interests of trust consumers.
It is not difficult to find through the above-mentioned association that as an industry self-regulatory organization, the association has been actively promoting the entire industry to actively practice consumer rights protection. On the other hand, as a practitioner of specific consumer rights protection, Fei Lin, deputy general manager of China Overseas Trust Wealth Management Center, said in an interview with China Net Finance: "Over the years, China Overseas Trust attaches great importance to investor education, and president Zhang Derong personally takes charge of the wealth management center, vigorously carrying out investor education and consumer rights protection. ”
Fei Lin explained in detail: "Investor education of trust companies mainly includes educating and guiding clients, including natural person investors. This work has evolved with the growing development of trust wealth, the gradual clarification of regulatory requirements, and the continuous growth of investors. Through years of investor education, trust products have become one of the investment and financial management tools commonly chosen by middle- and high-income people. In the past decade, the trust has provided investors with a good return on investment, and China Overseas Trust has also accumulated a large number of high-net-worth customers, providing stable financial support for the development of the company's trust business. ”
"Investment and education are conducive to the steady development of the whole industry, safeguard the long-term and fundamental interests of the majority of financial consumers, effectively protect the legitimate rights and interests of financial consumers, improve and improve the consumer protection work mechanism, strengthen investor publicity and education, promote the resolution of complaints and disputes, cultivate the risk awareness of qualified investors, and break the concept of rigid redemption." The relevant person in charge of Yunnan Trust also said in an interview with China Net Finance.
For consumers/investors themselves, the relevant person in charge of AVIC Trust suggested: "In the face of the unpredictable market environment, financial consumers should strengthen the initiative and consciousness of investment and education learning, enhance a deeper understanding of the financial industry, financial institutions, financial markets, wealth management products, investment appropriateness, etc., improve the awareness of risk responsibility and digital financial capabilities, and continuously enhance financial literacy, so as to form a guarantee for their more effective access to financial services." ”
"Trust companies should take investor appropriateness management as the core link of asset management business, accurately assess risk appetite and actual tolerance, and sell appropriate products to qualified investors." At the same time, it is necessary to improve consumer financial literacy, help investors establish a scientific view of risk and return, reasonably shape investment expectations, and truly let investors establish the investment concept of 'sellers are responsible, buyers are responsible'. ”
Trust "consumer protection" is full of flowers and diverse forms
The new asset management regulations issued in 2018 clearly pointed out that financial institutions should strengthen investor education, continuously improve investors' financial knowledge level and risk awareness, convey to investors the concept of "sellers are responsible, buyers are responsible", break rigid payment, and since then a new round of reshaping around the trust industry has also been quietly launched.
"In the past five years, there have been very big changes in the economic situation and regulatory policies at home and abroad, which have profoundly affected the transformation and development path of trust business. In particular, the introduction of new asset management regulations in 2018, the escalation of the Sino-US trade war in 2019, the outbreak of the new crown epidemic in 2020, and the frequent risk events in real estate in 2021 have caused investors to have many doubts about the development prospects of the trust industry and the choice of trust products, and the focus of investor education of trust companies has also shifted from popularizing traditional trust expertise to the outlook of the trust industry, the interpretation of regulatory requirements and the introduction of transformation business. Fei Lin recalled.
At the same time, China Net Finance found that although the trust industry has undergone major changes in the past five years, the trust industry has never shown instructions for investor education and consumer protection. Taking China Overseas Trust as an example, led by its president Zhang Derong, the wealth management center regularly carries out investor education and publicity activities in Beijing, Shanghai, Shenzhen and other places every year in combination with the theme activities of "financial knowledge into ten thousand homes", opens a column on "investor education" on the official website of China Overseas Trust, compiles and prints various types of trust knowledge brochures, popularizes financial knowledge to investors through various ways, publicizes investment concepts, reveals financial risks, and establishes a solid relationship of trust with investors.
Similar to China Overseas Trust, Yunnan Trust combines the trust industry culture with consumer rights and interests protection to optimize consumer rights and interests protection from multiple levels: in terms of management, in order to strengthen the information transmission and sharing between various departments, the strategic customer department led the establishment of a "consumer rights and interests protection working group", with the president of the company as the team leader, the assistant president as the deputy team leader, and the various consumer protection responsibility departments assign staff to join; actively improve the complaint dispute resolution mechanism and resolve contradictions and disputes; in terms of consumer protection publicity, the company actively carries out " 315 "Consumer Rights Protection Education and Publicity Week, Financial Knowledge Popularization Month and Anti-Money Laundering Special Publicity Month" and other activities; and jointly launched a trust knowledge column with China Net, aiming to popularize family trust knowledge, enhance the understanding and cognition of family trusts by the general audience, and provide support for more people to use trust tools to help family wealth management.
As a leading company in the industry, Ping An Trust actively responds to regulatory requirements, effectively uses online communication and offline publicity, combines the company's customer base and business characteristics, deepens the publicity and education of key groups, focuses on "one old and one young", improves consumer financial literacy, and improves the awareness and ability to protect rights according to law. Ping An Trust attaches great importance to personal information security and is the first trust company to obtain ISO27701 privacy and security management system certification. Not only education and training, the company also pays attention to protecting the legitimate rights and interests of investors from the level of mechanism and system.
Through the development and changes of the trust industry and the new model of social media communication, AVIC Trust provides clients with various forms and rich content of investment and education salons, knowledge questions and answers, live public classes, and investment education videos through the development and changes of the trust industry business and the new model of social media communication, and continuously disseminates asset allocation, long-term investment concepts, explains the investment strategies of securities investment products and the risk and return characteristics of various types of trust products, helping investors to better understand the market, understand products more, understand themselves more, and make more appropriate investment decisions Continuously improve due diligence management capabilities, from the perspective of the client, comprehensively sort out a series of due diligence service granularity from product project establishment, product due diligence, product approval, product issuance, operation management, termination and liquidation, information disclosure, etc., continue to improve the entrusted service capabilities, effectively perform fiduciary responsibilities, and protect the legitimate rights and interests of financial consumers in the implementation of the whole business process.
In an interview with China Net Finance, AIJIAN Trust said: "Through the establishment of rules and regulations, continuous internal and external education activities, and the creation of aijian trust consumer protection brand, aijian trust consumer protection awareness, financial legal knowledge, information security and risk prevention awareness have been popularized to internal employees, customers and the public, and the content output of financial education has been continuously strengthened, and the interaction with financial consumers has been enhanced, with remarkable results." ”
In addition, it includes the establishment of a special consulting service mechanism for the elderly by the Foreign Trade Trust; the formation of a party member education team, going deep into the community to carry out financial knowledge popularization and education activities, and explaining to the elderly the knowledge of preventing telecommunications network fraud and preventing illegal fund-raising. Minmetals Trust set up a "Financial Publicity and Popularization Team" to tailor the activity of "sending financial knowledge into the elderly community" for the elderly customers. China Chengxin Trust combines online and offline to carry out financial knowledge popularization activities. The above-mentioned trust industry has carried out a hundred flowers of consumer protection, and it has not laid a solid foundation for the trust industry to continue to practice investor education and consumer protection in the future.
New starting point and new expectations for 2022
Standing at this moment, looking back at the past and looking forward to 2022, especially in 2018, after the introduction of the new asset management regulations, the trust industry has undergone an unforgettable series of transformations, statistics show that individual investors continue to rise sharply, and the investment scale of financial institutions has dropped sharply, all reflecting that individual investors will further become the main service objects of trust companies, and wealth management business will also be an important direction for the transformation and development of trust companies.
"Under the new situation, the trust company to carry out investor education, is not only to publicize the professional knowledge of investors and promote the issuance of trust products, but also to comprehensively educate and guide investors to truly understand the meaning of "sellers are responsible, buyers are responsible" under the new situation of trust development, so that investors and trust companies can trust each other and grow together in the process of transformation and development of the entire industry. Fei Lin said.
And China Overseas Trust hopes to expand the content of investor education, enrich the way of investor education and publicity, improve the professional level of wealth managers, after 1-3 years of practice, so that customers gradually from the subscribers of traditional trust products to investors with certain professional knowledge and investment and financial concepts, can continue to choose trusts, enjoy more services and dividends brought by trusts.
AVIC Trust hopes that by continuously improving the financial consumer rights protection system and mechanism, continuously improving the level and experience of financial consumer rights protection, and continuously enhancing the sense of gain, happiness and security of financial consumers, it will provide the people with firm financial strength in the process of yearning for and realizing a better life.
"The company will jointly hold training on compliance, risk control, consumer rights protection and other aspects." Actively implement various work arrangements for the protection of consumer rights and interests, such as review and supervision, publicity and education, study and training, information protection, information disclosure, dispute resolution, and internal evaluation, and further consolidate the company's effectiveness in consumer rights protection and investor education. The relevant person in charge of Yunnan Trust said in an interview with reporters.
At the same time, a number of trust companies, including Ping An Trust, Aijian Trust, Everbright Trust, Zhongrong Trust, Minmetals Trust, ProMed Trust and other trust companies, have made detailed plans for future investor education and consumer rights protection, and set clear goals. In the future, while witnessing the implementation of the above plan with investors/consumers, China Net Finance will also assist the trust company to better protect the rights and interests of consumers, and make greater contributions to maintaining the stability of the financial market, promoting social fairness and justice and social harmony, and promoting common prosperity.
(Editor-in-charge: Jin Rong)
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