Article 2 These Measures shall apply to fund evaluation institutions that evaluate securities investment funds (hereinafter referred to as funds) within the territory of People's Republic of China (PRC) and publicly publish the evaluation results of funds.
These Measures are not applicable to fund evaluation institutions that only publish the results of fund evaluation in a non-public form. However, the institution should sign an agreement with the object that uses the fund evaluation results to prohibit the other party from publicly quoting the results.
Article 3 The term "fund evaluation business" as mentioned in these Measures includes rating, awarding, ranking individual indicators or other evaluation activities recognized by China Securities Regulatory Commission by fund evaluation institutions and their evaluators on the investment income and risk of funds or the management ability of fund managers.
Rating refers to the activities of fund evaluation institutions and their evaluators to comprehensively analyze the investment income and risk of funds or the management ability of fund managers by using specific methods, and to display the analysis results by using symbols, numbers or words with specific meanings.
The public form refers to the release of fund evaluation results to unspecified objects through newspapers, radio stations, TV stations, the Internet and other public media forms or lectures, reports, analysis meetings, computer terminals, telephones, faxes, emails, short messages and other forms.
Article 4 The following principles shall be followed when engaging in fund evaluation business:
(a) the long-term principle, that is, pay attention to the long-term evaluation of funds, cultivate and guide investors' long-term investment ideas, and not mislead investors with short-term and frequent fund evaluation results;
(two) the principle of fairness, that is, to maintain a neutral position, to treat all the evaluation objects fairly, not to distort or slander the evaluation objects, and to prevent possible conflicts of interest;
(3) the principle of comprehensiveness, that is, to comprehensively evaluate the investment income and risk of the fund or the management ability of the fund manager, and not to use a single index as the sole criterion for fund rating;
(four) the principle of objectivity, that is, the process and results of fund evaluation are objective and accurate, and false information shall not be used as the basis of fund evaluation, and false fund evaluation results shall not be published;
(five) the principle of consistency, that is, the fund evaluation standards, methods and procedures are consistent, and undisclosed evaluation standards, methods and procedures shall not be used;
(six) the principle of openness, that is, the use of information publicly disclosed in the market, not the use of data other than publicly disclosed information.
Article 5 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage the fund evaluation business activities according to law. China Securities Association conducts self-discipline management of fund evaluation business activities according to law. Article 6 A fund appraisal institution shall join the China Securities Association.
China Securities Industry Association shall formulate strict self-discipline rules, practice norms, membership standards and procedures for fund evaluation institutions. Fund evaluation institutions shall, within 30 working days after the implementation of these Measures or within 30 working days after starting to engage in fund evaluation business, apply to the Association for membership procedures in accordance with the requirements of publicity of the Association.
Article 7 A fund appraisal institution shall submit written filing materials to the China Securities Regulatory Commission within 15 working days after joining the China Securities Association, including the following documents:
(a) the basic situation of the fund evaluation institution;
(2) A copy of the business license of the enterprise as a legal person;
(3) The name list, resumes, copies of identity documents and qualification certificates of the personnel engaged in fund evaluation business and the main persons in charge of the business;
(4) A complete explanation of the theoretical basis, standards and methods of fund evaluation;
(5) Internal control system and business process;
(6) A letter of commitment of good faith;
(seven) other documents required by the China Securities Regulatory Commission.
Article 8 A fund evaluation institution shall have a sound organizational structure and internal control system; There are enough professionals familiar with the fund and its evaluation business; There are perfect and systematic evaluation standards, methods and strict business norms.
Article 9 The internal control of a fund evaluation institution shall promote the effective development and standardized operation of the fund evaluation business:
(1) Having a reliable fund information collection system and strictly managing the information database to ensure the safety, truthfulness and completeness of the information data;
(two) the establishment of fund evaluation standards, methods and operational procedures, and establish and maintain the corresponding information analysis and processing system.
(three) to establish and implement strict revision and review procedures to ensure the objective and accurate evaluation results;
(4) Establishing a public disclosure system of fund evaluation standards, methods and procedures, so as to achieve true, accurate, complete and timely disclosure;
(five) establish and implement a strict and standardized document system, and properly keep business information, working papers and related documents;
(six) to establish a review and evaluation system of fund evaluation standards, methods and operating procedures to ensure the consistency of fund evaluation business;
(seven) the establishment of the fund evaluation results release system and procedures to ensure that the released fund evaluation results meet the requirements of relevant business norms.
Article 10 A fund evaluator shall have the qualification of fund practice.
Fund appraisers refer to those engaged in fund appraisal business. Fund appraisers may engage in fund appraisal business only after being employed by a fund appraisal institution, and fund appraisers may not practice in more than two fund appraisal institutions at the same time.
Fund evaluation institutions shall not employ persons with illegal or irregular records to engage in fund evaluation business. Eleventh engaged in fund evaluation business should have a sound and systematic theoretical basis, standards and methods. The fund evaluation method shall be based on the research results of the institution itself, and shall not infringe upon the relevant intellectual property rights of other fund evaluation institutions.
Fund evaluation should at least consider the following contents:
(1) The investment direction, investment scope, investment method and performance comparison benchmark agreed in the fund prospectus and fund contract;
(2) The risk-return characteristics of the fund;
(3) The effectiveness and consistency of the fund investment decision-making system and the trading system.
The evaluation of fund managers shall at least consider the following contents:
(1) Compliance of the fund management company and its personnel;
(2) The governance structure of the fund management company.
(3) Stability of shareholders, senior managers and fund managers;
(4) investment management and research ability;
(5) Ability of information disclosure and risk control.
Article 12 The classification of funds shall be based on relevant laws, administrative regulations and the provisions of the China Securities Regulatory Commission, and may be subdivided according to laws, administrative regulations and the provisions of the China Securities Regulatory Commission on fund classification; Classification methods not stipulated by laws, administrative regulations and China Securities Regulatory Commission shall be clearly marked and the reasons shall be explained.
Article 13 A fund evaluation institution shall report the fund evaluation standards, evaluation methods and procedures to the China Securities Regulatory Commission and the China Securities Association for the record, and announce them to the public through the China Securities Association, its website and at least one information disclosure media designated by the China Securities Regulatory Commission. When modifying the above contents, the fund evaluation institution shall timely put on record and make an announcement.
Article 14 An institution engaged in fund evaluation business and publicly releasing evaluation results shall not commit any of the following acts:
(a) Comprehensive evaluation of different types of funds;
(2) Use a single index to rate or rank the funds with the number of funds less than 10 in the same category;
(3) Rewarding or ranking funds (except money market funds) whose fund contracts have been in force for less than 6 months;
(4) The rating period of funds (except money market funds) and fund managers is less than 36 months;
(5) The interval between updating the ratings of funds and fund managers is less than 3 months;
(6) The period for awarding awards to funds and fund managers is less than 65,438+02 months;
(7) The single index ranking cycle of funds and fund managers (including the data list of websites or consulting systems with click sorting function) is less than 3 months;
(8) The update interval of single index ranking of funds and fund managers is less than 1 month;
(9) Assessing the asset management plan of a specific customer.
Article 15 When there is a current or potential conflict of interest between a fund appraisal institution and the appraisal object, it shall explain the relationship between the institution and the appraisal object in the rating report and appraisal report, and at the same time explain the measures taken by the institution to avoid the impact of the conflict of interest in the evaluation process.
Article 16 A fund evaluation institution shall avoid using personnel who have current or potential conflicts of interest with the evaluation object to evaluate the evaluation object.
Seventeenth fund evaluation reports and other documents should explain that the evaluation results are not a prediction of future performance, nor should they be regarded as suggestions for investment funds.
Article 18 The results of fund evaluation shall be published in the name of the fund evaluation institution, and shall not be published in the name of the individual fund evaluator.
Article 19 Fund evaluation data and materials provided by fund evaluation institutions to fund investors or the public shall be kept for 65,438+05 years from the date of provision. Article 20 Fund managers, fund sales organizations and information disclosure media designated by the China Securities Regulatory Commission shall not quote the fund evaluation results provided by institutions that are not members of the China Securities Association.
Article 21 Where a fund manager, a fund sales organization and the information disclosure media designated by the China Securities Regulatory Commission decide to cooperate with a fund evaluation institution and quote the fund evaluation results, they shall conduct a prudent investigation on the fund evaluation institution to be cooperated in advance in accordance with the requirements of Article 9 of these Measures to check whether its internal control can guarantee the effective development and standardized operation of the fund evaluation business.
Fund managers, fund sales organizations and information disclosure media designated by the China Securities Regulatory Commission shall avoid quoting fund evaluation results provided by fund evaluation institutions that violate the requirements of Article 9 of these Measures.
Article 22 Where a fund manager, a fund sales organization and the information disclosure media designated by the China Securities Regulatory Commission decide to quote the fund evaluation results, they shall examine the fund evaluation results in advance in accordance with the business norms required by Article 14 of these Measures, and if they are found to be in violation of the business norms, they shall request the fund evaluation institution to make adjustments or refuse to quote them. Twenty-third fund evaluation institutions and their evaluators engaged in fund evaluation activities in violation of the provisions of these measures, the China Securities Regulatory Commission shall take regulatory measures such as ordering corrections, supervising talks, and issuing warning letters; If the circumstances are serious, administrative punishment shall be given according to law; Anyone suspected of committing a crime shall be transferred to judicial organs according to law and investigated for criminal responsibility.
Twenty-fourth China Securities Industry Association shall impose disciplinary sanctions on acts that violate self-discipline standards and professional norms; If the circumstances are serious, the membership will be cancelled.
Twenty-fifth fund evaluation institutions shall submit relevant filing documents and annual reports to the China Securities Association in accordance with the provisions.
Article 26 China Securities Industry Association shall establish a database and integrity files of fund evaluation institutions and their evaluators engaged in fund evaluation business, announce the membership of fund evaluation institutions to the public through appropriate means, and establish a tracking mechanism for fund evaluation behavior.
Article 27 China Securities Industry Association may inspect the business activities of fund evaluation institutions and their evaluators, and the inspected fund evaluation institutions shall cooperate with them and shall not interfere or hinder them. China Securities Industry Association shall promptly report the problems found in the inspection to the China Securities Regulatory Commission.
Twenty-eighth fund evaluation institutions after joining the China Securities Association, not in accordance with the provisions of Article 7 of these measures to the China Securities Regulatory Commission for the record, engaged in fund evaluation business, shall be ordered to make corrections, given a warning or a fine; Give a warning or a fine to the directly responsible person in charge and other directly responsible personnel.
Article 29 If a fund manager, fund sales organization or information disclosure media designated by China Securities Regulatory Commission quotes or publishes the fund evaluation results provided by a fund evaluation institution that does not have the membership of China Securities Association, China Securities Regulatory Commission shall take regulatory measures such as ordering it to make corrections and issuing a warning letter, and impose a warning or a fine; Give a warning or a fine to the directly responsible person in charge and other directly responsible personnel.
Thirtieth fund evaluation institutions in violation of the provisions of these measures, the employment of personnel who do not have the qualifications of the fund, the China Securities Regulatory Commission to take regulatory measures such as ordering correction, or impose a warning, fine; Give a warning or a fine to the directly responsible person in charge and other directly responsible personnel.
Article 31 If a fund appraisal institution fails to keep relevant documents and materials in accordance with the provisions of these Measures, it shall be ordered to make corrections and be given a warning or a fine.
Article 32 If a fund appraisal institution commits any of the following acts, the China Securities Regulatory Commission shall take regulatory measures such as ordering it to make corrections, supervising talks, and issuing warning letters. , and impose a single warning or fine:
(1) The internal control system does not conform to the provisions of Article 9 of these Measures;
(2) The standards and methods of fund evaluation do not conform to the provisions of Articles 11 and 12 of these Measures;
(3) Failing to publicly disclose the fund evaluation standards, methods and procedures in accordance with Article 13 of these Measures, or failing to engage in fund evaluation business in accordance with the publicly disclosed fund evaluation standards, methods and procedures;
(four) in violation of the provisions of article fourteenth of these measures to evaluate the fund or publish the evaluation results of the fund;
(five) in violation of the provisions of article fifteenth and article sixteenth of these measures;
(six) unfair treatment of the evaluation object, or belittle and slander other fund evaluation institutions, evaluators and other unfair competition behavior. Article 33 These Measures shall come into force as of 2065438+65438 in 00+65438 in 0+0.