The regulatory body of a fund management company is the China Securities Regulatory Commission.
In addition to fund management companies, the CSRC is also responsible for supervising securities and futures operating institutions, securities registration and settlement companies, futures settlement institutions, securities and futures investment consulting institutions and securities credit rating agencies.
The self-regulatory organization of the securities industry is the Securities Industry Association, and fund companies are members of the Securities Industry Association.
In addition, fund companies generally set up supervision and auditing departments, and fund companies implement the inspector general system.
What are the rules for fund management companies?
According to Chapter VI of the Measures for the Administration of Securities Investment Fund Management Companies, there are the following provisions:
Article 61 Where a fund management company or its shareholders apply for approval of relevant matters, conceal relevant information or provide false materials, the China Securities Regulatory Commission will not accept it; Those that have been accepted shall not be approved.
Article 62 The China Securities Regulatory Commission shall, in accordance with laws, administrative regulations, the provisions of the China Securities Regulatory Commission and the principle of prudential supervision, conduct off-site inspection and on-site inspection on the corporate governance, internal control, operating status, risk status and related business activities of fund management companies.
Article 63 Off-site inspection is mainly conducted by reviewing the materials submitted by fund management companies.
The fund management company shall submit the following materials to the China Securities Regulatory Commission and the local dispatched office of the China Securities Regulatory Commission:
(a) the annual report of the fund management company audited by an accounting firm with securities-related business qualifications;
(2) An annual evaluation report on the internal control of the fund management company issued by an accounting firm with securities-related business qualifications;
(3) quarterly report and annual supervision and audit report;
(four) other materials required by the China Securities Regulatory Commission in accordance with the principle of prudent supervision.
Article 64 A fund management company shall submit an annual report and an annual evaluation report within 3 months from the end of the year; Submit quarterly supervision and audit report within 0/5 days after the end of the quarter and annual supervision and audit report within 30 days after the end of the year.
Article 65 Under any of the following circumstances, the fund management company shall report to the China Securities Regulatory Commission and the local dispatched office of the China Securities Regulatory Commission within 5 days:
(1) Changing the shareholders holding less than 5% of the shares;
(2) Changing the shareholding ratio of shareholders to no more than 5%;
(3) Change of name and domicile;
(4) Shareholders increase or decrease the registered capital in the same proportion;
(5) Amending the general provisions of the Articles of Association;
(6) The Company, its directors, senior managers and fund managers are subject to criminal and administrative penalties;
(7) The company, its directors, senior managers and fund managers are placed on file for investigation by the regulatory authorities or judicial organs;
(8) Significant adverse changes have taken place in the company's financial position;
(9) Major complaints due to the company's negligence;
(10) facing a major lawsuit;
(eleven) other matters that have a significant impact on the company's operation.
The fund management company shall notify all shareholders in writing when the matters listed in Items (6) to (11) of the preceding paragraph occur.
The fund management company shall immediately report to the China Securities Regulatory Commission and its dispatched offices in case of emergency as stipulated in Article 58 of these Measures.