Beijing business today reporter learned today that the China Insurance Regulatory Commission (CIRC) recently issued the Notice on Clearing and Regulating the Channel Business of Insurance Asset Management Companies (hereinafter referred to as the Notice), requiring all insurance asset management companies to clear and standardize the bank deposit channels and other businesses. During the period of cleaning up the regulations, the insurance asset management company will suspend the new channel business.
The channel business included in the liquidation scope this time refers to the insurance asset management company's business of setting up an asset management plan, accepting the entrustment of commercial banks and other institutions, and carrying out investment such as bank agreement deposits according to its wishes. In other words, banks use the insurance asset management plan to turn their interbank deposit certificates into agreement deposits, and turn interbank deposit certificates with lower yields into agreement deposits.
"The investment risk is borne by the client, and the insurance company does not assume the responsibility of active management, but it can charge the channel fee. For this reason, bank deposit business accounts for the bulk of the asset management channel business of the insurance department. " The insider said. The data also shows that by the end of 20 15, the total scale of channel business in the whole financial market should be more than 20 trillion yuan, of which the insurance asset management channel business is about 1 trillion yuan, of which more than 90% is the channel business of bank deposits.
However, due to the lax internal control and other problems, in the early stage of the business of bank-securities cooperation channel, there are hidden dangers that banks and securities institutions shirk their responsibility for risk management and control.
In order to prevent the risk of using funds and avoid the occurrence of risk events such as misappropriation or fraud of funds by lawless elements due to lax internal control measures, the CIRC carried out this inventory work, aiming at the four major risk areas of investment, credit, operation and morality, such as checking the relevant business contracts one by one, and clearly implementing the exemption clause of investment risk liability, that is, the investment risk is borne by the client; Evaluate the counterparty credit default risk involved in related businesses, establish and improve the compliant counterparty database, and strictly formulate the counterparty selection process for credit risk management.
In fact, as early as the beginning of 20 14, the Development and Reform Department of the China Insurance Regulatory Commission convened eight asset management companies, including China Life Asset Management, Xinhua Asset Management and Anbang Asset Management, to hold a symposium on the channel business involved in the business field of asset management companies and find out the operation mode of the channel business involved in the insurance asset management field.
The CIRC requires all insurance asset management companies to complete the self-inspection and clean-up work before July 3 1. For related businesses with risks, the CIRC requires all insurance asset management companies to rectify in time and take effective risk prevention measures; If the risk of loss has occurred, the company should seriously investigate the management responsibility of relevant personnel.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.