The "Management Rules" explain who should obtain the qualification for fund practice, the conditions for qualification registration, the management responsibilities of fund industry institutions, the practice criteria, self-discipline management and so on. The Provisions on Related Matters also includes the examination subjects and qualification conditions that different types of employees should pass, which provides guidance for the healthy development of the growing fund industry employees in China.
Fund Jun carefully combed the contents of the new regulations and interpreted them for friends in the form of 9 questions and 9 answers.
1. Which institutions participate in fund qualification management?
The Management Rules defines the specific scope of qualification management, including several categories:
(a) Public Offering of Fund managers and securities and futures institutions engaged in private asset management business;
(2) Private fund managers registered by the Association;
(3) Fund custodian;
Fund service institutions engaged in fund sales, sales payment, share registration, valuation, investment consultancy, evaluation and information technology system services.
Second, who should obtain the qualification of fund practice?
The "Management Rules" pointed out that the following employees should be registered to obtain the qualification:
(1) Public Offering of Fund managers, securities and futures institutions engaged in private asset management and private investment fund managers engaged in fund sales, product development, research and analysis, investment management, trading, risk control, share registration, valuation accounting, clearing and settlement, supervision and auditing, compliance management, information technology, financial management and other professionals related to fund business, including managers of relevant business departments;
(2) The legal representative, managing partner (appointed representative), compliance risk controller and other senior managers of the private equity (including venture capital) investment fund manager;
(3) Professionals among fund custodians engaged in account management, fund settlement, valuation review, investment supervision, information disclosure, internal audit monitoring and other work related to fund business, including managers of relevant business departments;
(4) Professionals engaged in fund sales, sales payment, share registration, valuation, investment consultancy, evaluation and information technology system services related to fund business in fund service institutions, including managers of relevant business departments;
(five) other personnel who need to obtain the qualifications as stipulated by the China Securities Regulatory Commission and the Association.
3. What exams should different types of employees pass?
The Provisions on Related Matters mentions that fund practitioners who apply for the qualification of registered funds shall pass the qualification examination for fund practitioners, and the combination of examination subjects corresponding to the types of fund business they are engaged in is as follows:
(1) Practitioners engaged in Public Offering of Fund management, private equity fund management of securities and futures institutions (except equity), private equity fund management, fund custody and various securities fund services shall pass subject I, Fund Laws and Regulations, Professional Ethics and Business Standards, and subject II, Basic Knowledge of Securities Investment Funds.
(2) Employees engaged in various non-securities private equity fund management businesses shall pass the basic knowledge examination of private equity investment funds in subjects I and II or subjects I and III of the fund qualification examination.
(3) Investment managers of private equity management plans who engage in equity investment in securities and futures institutions, and employees who only engage in private equity services in various fund service institutions need to pass the examination subject combination of subject 1 and subject 3 for qualification registration.
In addition, according to the regulations of the CSRC and the Association, the examination results of Securities Investment Fund, Basic Knowledge of Securities Market and Basic Knowledge of Securities Investment Fund Sales and Securities Issuance Underwriting (only for senior managers of private equity investment and venture capital fund managers) organized by China Securities Association are recognized.
Those who apply to the Association for the qualification of fund business (including the qualification of fund sales business) for the first time through the above-mentioned related subject examinations shall complete the follow-up vocational training of not less than 30 hours or re-pass the qualification examination within two years before registration.
4. What are the registration requirements for qualification?
The "Management Rules" stipulates the registration conditions for obtaining qualifications, and the personnel applying for registration qualifications (hereinafter referred to as the applicant) shall meet the following conditions:
(a) moral integrity, with good professional ethics;
(2) Having passed the qualification examination;
(3) It has been employed by a public institution;
(4) It has not been sentenced to punishment for crimes in the last three years;
(5) There are no circumstances stipulated in Article 15 of the Securities Investment Fund Law;
(6) It has not been revoked by the China Securities Regulatory Commission or the Association in the last five years;
(seven) the financial supervision department or industry self-regulatory organizations have not taken measures to prohibit entry, or the execution period has expired;
(eight) other conditions stipulated by laws and regulations, the China Securities Regulatory Commission and the Association.
In addition, according to the national opening-up policy and the authorization of the CSRC regulations, it is stipulated that some subjects can be exempted from the qualification examination. At the same time, if the applicant has passed the special training organized by the association and is found to be qualified, it will be regarded as temporarily not having the relevant conditions for vocational qualification registration within two years from the date of obtaining the qualification.
What are the requirements for the follow-up vocational training of verb (abbreviation of verb)?
The "Management Rules" stipulates that employees should continue to have registration qualifications in the process of engaging in fund business and participate in follow-up vocational training.
From the year after the first registration qualification, or from the year after the qualification is cancelled, at least the following vocational training related to laws and regulations, professional ethics and professional skills 15 hours shall be completed every year, of which the following vocational training on professional ethics shall be no less than 5 hours.
In addition, those who have not been engaged in fund business for more than four consecutive years should complete at least 30 hours of follow-up vocational training or re-pass the qualification examination within two years before registration.
6. What are the requirements for qualifications?
The Provisions on Related Matters points out that a fund qualification examination subject meets one of the following conditions, which can be regarded as meeting the conditions for fund qualification registration:
(1) The chairman, senior management personnel and other directors and supervisors engaged in operation and management of the public offering fund custodian, and the senior management personnel of the special fund custody department of the public offering fund custodian have relevant qualifications such as national (regional) funds or asset management and fund sales. , signed the Memorandum of Understanding on Securities and Futures Supervision and Cooperation with China Securities Regulatory Commission, or the country (region) where he works does not require relevant qualifications, but has engaged in asset management, securities investment analysis, fund marketing and other businesses. In the past five years.
(2) The senior management of the private equity fund manager has passed the financial-related qualification examinations such as securities qualification, futures qualification, banking qualification and CFA qualification, or obtained the qualification of certified public accountant, legal professional qualification and asset appraiser, or served as a director, supervisor or senior manager of a domestic listed company, or engaged in asset management-related business in the last three years, with an average annual asset management scale of 65,438+0,000.
(3) Having passed the relevant qualification examination for securities practice qualification or having completed the registration of securities practitioners.
(4) Hong Kong professionals engaged in fund business in the Mainland hold Class 4 (providing securities advice)/Class 9 (providing asset management) financial licenses issued by the Hong Kong Securities Regulatory Commission.
(5) Taiwan Province compatriots engaged in fund business in mainland China, and obtained the qualification of securities investment and investment salesman, securities investment analyst, senior salesman of securities company, trust business personnel or senior financial manager (AFMA) in Taiwan Province Province.
(6) Overseas professionals who have worked as fund managers, fund custodians or fund service institutions in Beijing, Shanghai, Hainan, Chongqing, Hangzhou, Guangzhou and Shenzhen, and engaged in fund business activities in the above areas, have obtained relevant qualifications for overseas funds.
The association said that if one of the above conditions is met, its institution should provide relevant qualification certificates and certificates, or certificates of asset management scale in the last three years issued by fund custodians and fund service institutions when applying to the association for the qualification of registered funds. According to the needs of industry and market development, the association will increase or adjust the recognition that meets the registration conditions of fund qualification as appropriate.
7. What are the management responsibilities of fund industry institutions?
The "Management Rules" sort out the contents of qualification management and urge institutions to perform the main responsibilities of qualification management.
Specifically, the contents of institutional qualification management include qualification registration, qualification information change, follow-up vocational training management, credit information management and qualification cancellation.
The institution shall designate a special person as the qualification administrator to be responsible for the management of professional qualifications, and the appointment or replacement of the qualification administrator shall be reported to the Association within five working days.
In any of the following circumstances, the institution shall record the credit information of employees within five working days in accordance with the relevant provisions:
(1) Being punished by the financial regulatory authorities or taking regulatory measures for violating relevant laws and regulations, regulatory provisions and self-regulatory rules, or being punished by the industry self-regulatory organizations or taking management measures;
(2) Employees are punished by institutions for violating relevant laws and regulations, regulatory provisions and self-discipline rules;
(3) The employee is punished by the organization for serious violation of the rules and regulations of the organization, or dismissed by the organization for illegal and untrustworthy behavior;
(four) other circumstances stipulated by the China Securities Regulatory Commission and the Association that should be recorded in the integrity information.
8. What is the employee's code of conduct?
The management rules also emphasize the code of conduct that employees should abide by, including loyalty, prudence, law-abiding, conflict of interest management, information disclosure, appropriateness, fair competition, confidentiality and other obligations.
In particular, we should consciously safeguard the professional reputation of individuals and the reputation of their institutions and industries, practice social ethics and business ethics, respect each other, compete fairly, and operate in good faith.
Specifically, the "Management Rules" pointed out that employees should fulfill their duties, be honest and trustworthy, abide by laws and regulations, be loyal to the interests of investors, put the interests of investors above the interests of individuals and institutions, and treat investors fairly.
Employees should avoid conflicts between personal interests, the interests of stakeholders and the interests of investors, and report to the organization in time when conflicts may occur or have occurred. The institution shall promptly and fully disclose the possibility of conflict and related information to investors; When it is inevitable, we should ensure that the interests of investors are treated fairly.
In addition, in the process of selling products or providing services, employees should adhere to the principle of investor suitability, fully understand the situation of investors, and sell or provide appropriate products or services to appropriate investors according to their investment needs and objectives, financial status, investment experience, liquidity requirements and risk tolerance, so as to fully reveal investment risks.
9. What are the rules of self-discipline management?
The "Management Rules" also requires the implementation of the association's self-discipline management responsibility, and stipulates the function of the association to check the implementation of the qualification management of institutions and employees. If it is clear that the institution and its employees are investigated or inspected by relevant institutions because of suspected violation of law and discipline, the association may suspend accepting matters related to its qualification management. In view of the violation of the relevant provisions of these rules by institutions and employees, the Association may take disciplinary action against institutions and employees.
According to the association, if an institution or employee has any of the following circumstances in qualification management, it may suspend the acceptance of its qualification registration, employee information change and qualification cancellation. ：
(a) the public security, procuratorial, discipline inspection and supervision and other relevant organs put forward the need for law enforcement assistance;
(2) Refusing or obstructing the supervisors or self-discipline management personnel from exercising their functions and powers of supervision, inspection, investigation or self-discipline inspection according to law;
(three) in violation of the provisions of these rules, the association has taken disciplinary action to suspend the acceptance of related business;
(four) other suspected serious violations of laws and regulations.
I never want to start a business again! The analyst failed in less than a year, and he killed the broker: work harder! China Eastern Airlines will increase by 654.38+0.5 billion yuan: introduce 38 aircraft to supplement its working capital.