Hello, the new appropriateness regulation was implemented on July 1 this year. Article 43 of the Measures focuses on strengthening the appropriate responsibility of operating institutions, which scientifically classify investors and take "knowing investors", "knowing products", "matching investors with products" and "revealing risks" as the basic operating principles. The second is to clarify the bottom line requirements and division of responsibilities of product classification, and establish a product classification mechanism that is graded and strictly controlled; The third is to stipulate the obligations that operating institutions should perform in all aspects of appropriateness management, and comprehensively and strictly regulate related behaviors; The fourth is to highlight the special protection for ordinary investors and provide investors with targeted products and differentiated services; Fifth, strengthen supervision responsibility and legal responsibility to ensure that the obligation of appropriateness is implemented.

According to the risk tolerance, the Guidelines classify investors into five categories: conservative, cautious, steady, active and radical, and products are also classified into five categories: low risk, medium low risk, medium risk, medium high risk and high risk. Industry insiders told reporters that the regulatory authorities' move is intended to regulate the development of institutional business, which is conducive to the protection of investors' interests and the risk control of brokers.