Where a commercial bank acts as a fund custodian, it shall be approved by the the State Council securities regulatory agency in conjunction with the the State Council banking regulatory agency; Other financial institutions acting as fund custodians shall be approved by the the State Council Securities Regulatory Authority.
As a fund custodian, it shall meet the following conditions:
1, and its net assets and risk control indicators meet relevant regulations;
2. Set up a special fund custody department;
3. Full-time personnel who have obtained the qualification for fund practice have reached a quorum;
4. Having the conditions for safe custody of the fund property;
5. It has a safe and efficient clearing and delivery system;
6. Having business premises, safety precautions and other facilities related to the fund custody business that meet the requirements.
Extended data:
According to Article 88 of People's Republic of China (PRC) Securities Investment Fund Law:
Non-public offering funds shall be raised from qualified investors, and the cumulative number of qualified investors shall not exceed 200. Specific standards for qualified investors shall be formulated by the the State Council Securities Regulatory Authority.
Unless otherwise agreed in the fund contract, the non-public offering fund shall be managed by the fund custodian. A fund manager who serves as a non-public offering fund shall go through the registration formalities with the fund industry association in accordance with the regulations and submit basic information.
Dianjiang County People's Congress Standing Committee-People's Republic of China (PRC) Securities Investment Fund Law