SFC Notified Violations Of Assets Management Business Penalties

China Securities Regulatory Commission spokesman Deng Ge reported on 29 days that some securities companies and fund subsidiaries violating asset management business and punishing them.

　　 Deng Ge The securities and Futures Commission recently organized the relevant securities regulatory commission and the China Securities Investment Fund Association to conduct a special on-site inspection of the assets management business of 6 securities companies and 8 gold based subsidiaries.

The inspection found that some companies had problems that they did not have the fund sales qualification agencies to sell asset management products, and violate spanactions between their different asset management products. Some of the company's classified asset management products were also suspected of illegal activities such as profit spanfer and insider trading. These behaviors violate the relevant regulations of asset management business of securities companies and fund subsidiaries, and harm the interests of investors.

　　 Deng Ge 說，證監會對這些違法行為分別作出處理：對分級資產管理產品涉嫌利益輸送、內幕交易等違法行為的，依法移送證監會稽查部門查處;對存在委托不具有基金銷售資格機構銷售資產管理產品、進行有失公允的關聯交易、重要信息未及時向投資人披露等違規行為的萬家共贏資產管理有限公司、金元百利資產管理有限公司、深圳華宸未來資產管理有限公司等3家基金子公司采取責令整改、暫不受理公司業務備案的監管措施，同時暫停管理失責的母公司的業務申請，并對母子公司的相關責任人員采取了認定不適當人選、出示警示函等監管措施;對1家基金子公司及2家證券公司采取責令整改的監管措施;對1家證券公司資產管理部門多名從業人員不具備證券執業資格的問題，由中國證券業協會采取責令改正等自律懲戒措施。

　　 meanwhile For those institutions that have violating the law, the fund association decided to suspend the application for asset management products of 3 gold based subsidiaries and their parent companies, written warnings to 2 securities companies and 3 gold base subsidiaries, and communicated with the 4 companies before making a product record.

Deng Ge said that the SFC will continue to strictly follow the requirements of "deregulation and strengthening supervision" to strengthen the post supervision of assets management business of securities institutions. In particular, in the most dynamic private equity sector, the SFC will accelerate the establishment of a regulatory framework for private equity funds, guide the fund industry association to do a good job in the registration and filing of private equity funds, establish a unified information submission and monitoring mechanism, conduct a problem oriented on-site inspection, establish a coordination mechanism with local governments, and assist local governments in cracking down on all kinds of illegal fund-raising activities in the name of private equity funds.