Securities fund practitioner rules about each brokerage fund practitioner


The China Securities Regulatory Commission (CSRC) recently issued the Measures for the Supervision and Administration of Directors, Supervisors, Senior managers and Employees of Securities and Fund Operating Institutions (hereinafter referred to as the Measures), which adjusts and optimizes the personnel management rules of securities and fund operating institutions, concerning every securities and fund operating personnel.CSRC related person in charge said that the “Management Measures” issued to standardize the securities fund operating institutions of directors, supervisors and employees of the office and practice behavior, strengthen the main responsibility of operating institutions, promote operating institutions compliance and stable operation.The Administrative Measures focus on clarifying the office-holding requirements, practice norms and management responsibilities of the personnel of securities fund operating institutions.First, we will optimize personnel management in accordance with the principle of classification.The examination and approval of directors, supervisors and employees before they are engaged is adjusted to record management after they are engaged, and the basic conditions of directors, supervisors and employees are detailed from the aspects of personal conduct, service experience, operation and management ability, professional ability and so on.The dispatched offices of the CSRC shall conduct post-verification on the conditions of the appointees. If the conditions are not met, the operating institutions shall replace them.Second, strengthen practice standards and implement the requirement of “zero tolerance”.The basic principles of diligence and responsibility, fair competition, safeguarding the interests of customers, honesty and self-discipline should be clarified, and the bottom line requirements and prohibited behaviors should be listed.We will elaborate the institutional arrangements for taking administrative supervision measures and imposing administrative penalties on operating institutions and personnel for violating laws and regulations.Third, to consolidate the main responsibility of operating institutions and lay a solid foundation for the development of the industry.The main responsibility of personnel management of operating institutions should be constructed from three aspects: appointment inspection, duty performance supervision, assessment and accountability.Establish and improve the internal control mechanism of personnel tenure and practice management, strengthen compliance and risk management, establish a long-term and reasonable compensation management system, improve investment behavior management, conflict of interest management and clean work system, and strengthen the endogenous constraint mechanism.Continue to improve personnel’s moral standards, professional ability, compliance risk awareness and clean working level, and foster compliance, integrity, professionalism and steady industry culture.The measures will take effect on April 1, with a one-year transition period for those who do not meet the corresponding qualifications.Read: Yu Fanghua

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