(1) Formulate laws and regulations. 1997165438+10, the China Securities Regulatory Commission promulgated the Interim Measures for the Management of Securities Investment Funds, and successively formulated a series of supporting implementation guidelines, which strictly regulated the fund contract, custody agreement, prospectus, articles of association of management company, information disclosure and management of employees, creating a healthy and orderly development for the fund industry.
(2) qualification examination. Strict qualification management shall be implemented for securities investment fund operating institutions, including qualification identification, annual qualification inspection and qualification verification, and the fund investors' capital safety shall be ensured by establishing market access and exit mechanisms. For example, the examination and approval system is implemented for the establishment of fund management companies and funds and the qualification of fund custody of commercial banks.
At the same time, China Securities Regulatory Commission has also conducted strict qualification examination and identification for fund practitioners. According to the regulations, fund managers, senior managers of fund custodians, fund managers and other personnel must pass special examinations and have qualifications before they can engage in fund management business.
In addition, the China Securities Regulatory Commission also requires fund management companies and fund custodians to conduct continuous business training and professional ethics training for their employees.
(3) Information disclosure supervision. Formulate a strict fund information disclosure system, clearly define the content and format of information disclosure, and require funds to strictly fulfill their obligations of regular announcements and temporary announcements of major events. Among them, regular announcements include weekly, quarterly, interim and annual reports of fund net worth; The relevant fund managers and custodians shall also make a temporary announcement when any event that may have a significant impact on the interests of fund investors occurs. At present, China's fund information disclosure system has basically met international practice.
(4) On-site and off-site inspection. Conduct on-site and off-site inspections on fund managers regularly and irregularly, comprehensively and dynamically grasp the actual situation of fund operation, promptly punish and expose illegal acts in fund operation, take timely measures for problems found in supervision, standardize fund operation and protect investors' rights and interests.
(5) Urge fund managers to establish and improve the internal control system. By formulating a series of measures, the establishment and improvement of the internal control system of fund management companies are standardized. It mainly includes: requiring fund managers and their shareholders to be strictly independent in personnel, assets and operation; Strictly limit the scope of application of fund managers' own funds; Require fund managers to formulate and implement effective and high-standard business processes; Fund investment should have scientific research, decision-making and execution procedures; Guard against risks such as insider trading and improper related party transactions; The fund manager shall set up a supervision and audit department independent of the business department; Inspectors have full supervision and auditing powers, and they are full-time to inspect and supervise the compliance of the company and its employees with various laws, regulations and company systems.
(6) The China Securities Regulatory Commission and the People's Bank of China strictly supervise the fund custody business of custodian banks.