Article 2 Custody of securities investment funds (hereinafter referred to as funds) as mentioned in these Measures refers to the behavior of commercial banks or other financial institutions with fund custody qualifications established according to law as custodians, and in accordance with the provisions of laws and regulations and the provisions of fund contracts, they perform the duties of safe custody of fund property, clearing and settlement, net asset value review, investment supervision, and convening fund share holders' meetings.
Article 3 Commercial banks engaged in fund custody business shall be approved by China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) and China Banking Regulatory Commission (hereinafter referred to as China Banking Regulatory Commission), and shall obtain the qualification of fund custody according to law. Other financial institutions engaged in fund custody business shall be approved by the China Securities Regulatory Commission and have obtained the qualification of fund custody according to law.
Institutions that have not obtained the qualification for fund custody shall not engage in fund custody business.
Article 4 A fund custodian shall abide by laws and regulations, fund contracts and fund custody agreements, abide by professional ethics and codes of conduct, be honest and trustworthy, be cautious and diligent, and perform fund custody duties for the benefit of fund share holders.
Article 5 The senior managers and other employees of the fund custody department of a fund custodian shall faithfully and diligently perform their duties, and shall not engage in securities trading or other activities that harm the interests of fund property and fund share holders.
Article 6 China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) and China Banking Regulatory Commission (hereinafter referred to as China Banking Regulatory Commission) shall supervise and manage fund custodians and their fund custody business activities in accordance with laws and regulations and the principle of prudential supervision.
Article 7 China Asset Management Association conducts self-discipline management of fund custodians and their fund custody business activities in accordance with laws, regulations and self-discipline rules. Article 8 A commercial bank applying for fund custody qualification (hereinafter referred to as the applicant) shall meet the following conditions:
(1) Its net assets at the end of the last three fiscal years are not less than 2 billion yuan, and its risk control indicators, such as capital adequacy ratio, meet the relevant regulations of the regulatory authorities;
(2) Having a special fund custody department, which can guarantee the integrity and independence of the custody business operation;
(3) The senior management personnel to be employed in the fund custody department meet the statutory requirements, and the personnel who have obtained the qualification for fund practice are not less than 65,438+0/2 of the number of employees in this department; There shall be no less than 8 employees who intend to engage in capital settlement, accounting, investment supervision, information disclosure, internal audit and monitoring. , and have the qualification of fund practice. Among them, personnel in core business positions such as accounting and supervision should have more than 2 years of custody business experience;
(4) Having the conditions for safe custody of the fund property, and ensuring the integrity and independence of the fund property.
(5) Having a safe and efficient clearing and delivery system;
(six) the fund custody department has a fixed place to meet the business needs and is equipped with an independent security monitoring system;
(7) The fund custody department is equipped with an independent custody business technology system, including network system, application system, security protection system and data backup system;
(eight) a sound internal audit monitoring system and risk control system;
(nine) no record of major violations of laws and regulations in the last three years;
(10) Other conditions stipulated by laws and administrative regulations, as well as China Securities Regulatory Commission and China Banking Regulatory Commission approved by the State Council.
Article 9 An applicant shall have a sound clearing and delivery business system and meet the following requirements:
(a) the securities trading settlement funds in the system are remitted to the account in time;
(2) Safely receiving transaction settlement data from exchanges, securities registration and settlement institutions and other relevant institutions;
(3) System security docking with fund managers, fund registration institutions, securities registration and settlement institutions and other related business institutions;
(4) Execute the investment instructions of the fund manager according to law, and handle the liquidation and delivery matters in a timely manner.
Article 10 The applicant's fund custody business premises, security facilities, other facilities related to fund custody business and related systems shall meet the following requirements:
(1) The business premises of the Fund Custody Department are relatively independent and equipped with access control system;
(2) Business posts that can access fund transaction data have separate office space, and irrelevant personnel are not allowed to enter at will;
(3) It has a sound confidentiality system for fund transaction data;
(4) Having a secure data backup system for fund custody business;
(5) Having an emergency plan for the fund custody business and having emergency capability.
Article 11 An applicant shall submit the following application materials to the China Securities Regulatory Commission and send a copy to the China Banking Regulatory Commission:
(1) an application;
(2) A special capital verification report on net assets and capital adequacy ratio issued by an accounting firm with securities business qualifications;
(3) the certificate of establishing a special fund custody department, and the statement and commitment to ensure the integrity and independence of the business operation of the department;
(4) Internal organization and job responsibilities;
(5) Basic information about the senior managers and employees to be appointed by the Fund Custody Department, including the post-holding materials of the senior managers to be appointed, the list of employees to be appointed, resumes, copies of qualification certificates for fund practice, professional training and post allocation;
(6) A report on the safe custody of the fund property;
(seven) capital settlement delivery system operation test report.
(eight) the plan of the office, the design scheme of the safety monitoring system and the installation and debugging report;
(nine) the design scheme, emergency plan and emergency capability test report of the fund custody business backup system;
(10) Relevant business rules and regulations, including business management, operating rules, fund accounting, fund liquidation, information disclosure, internal audit and monitoring, internal control and risk management, information system management, employee management, confidentiality and file management, major suspicious situation reporting, emergency treatment and other rules and regulations required to perform the duties of fund custodian;
(eleven) the business plan of the fund custody business;
(twelve) other materials as prescribed by the China Securities Regulatory Commission and the China Banking Regulatory Commission.
Article 12 The China Securities Regulatory Commission shall make a decision on whether to accept or not within 5 working days from the date of receiving the application materials. If the application materials are complete and conform to the statutory form, a written acceptance certificate shall be issued to the applicant; If the application materials are incomplete or inconsistent with the statutory form, the applicant shall be informed of all the contents that need to be supplemented at one time.
Thirteenth China Securities Regulatory Commission shall make a decision on administrative license within 20 working days from the date of accepting the application materials. If the China Securities Regulatory Commission makes an approval decision, it shall countersign the China Banking Regulatory Commission; If a decision on disapproval is made, the reasons shall be explained and the applicant shall be informed of the termination of the administrative licensing procedure.
China Banking Regulatory Commission shall make a decision on administrative license within 20 working days from the date of receiving the countersigned documents. If the CBRC makes an approval decision, both the China Securities Regulatory Commission and the China Banking Regulatory Commission will issue approval documents, and the China Securities Regulatory Commission will issue a fund custody business license; If the CBRC of China makes a decision not to grant permission, it shall explain the reasons and inform the applicant of the termination of the administrative licensing procedure.
Article 14 Before making an approval decision, the China Securities Regulatory Commission and the China Banking Regulatory Commission may conduct an examination in the following ways:
(1) Examining the contents of the application materials by means of expert review and verification;
(2) To jointly conduct on-site inspection on the preparation of the fund custody department to be established by the commercial bank. The on-site inspection shall be conducted by two or more staff members, and the time for on-site inspection shall not be counted within the time limit specified in Article 13 of these Measures.
Article 15 A commercial bank that has obtained the qualification of fund custody shall be the fund custodian. The fund custodian shall go through the formalities for the appointment of senior managers of the fund custodian department in a timely manner. Article 16 Before concluding a fund contract, a fund prospectus, a fund custody agreement and other legal documents with a fund manager, a fund custodian shall, from the perspective of protecting the holders of fund shares, evaluate the terms related to investment scope and investment restrictions, fund fees, income distribution, accounting valuation and information disclosure. In order to ensure the clarity and compliance of relevant agreements, the full disclosure of risks and the scientific and fair accounting valuation. In the fund custody agreement, the business supervision and cooperation responsibilities between the fund custodian and the fund manager should also be stipulated in detail.
Article 17 A fund custodian shall, in accordance with the relevant provisions and the fund custody agreement, keep the fund property safely and perform the following duties:
(1) Set up fund accounts, securities accounts and other relevant accounts necessary for investment transactions for different fund assets under custody to ensure the independence and integrity of the fund assets;
(2) Establish a reconciliation mechanism with the fund manager, regularly check the fund positions, securities accounts, net asset value and other data, timely check the receipt and payment of subscription and subscription funds, the payment of redemption funds and the receipt and payment of investment funds, and keep the accounting vouchers, transaction records, contract agreements and other important documents and files of the Fund for more than 65,438+05 years;
(3) Have the obligation to keep confidential the fund property investment information and related materials, and shall not disclose relevant information and materials to any institution or individual except for laws, administrative regulations and other relevant provisions, regulatory agencies and audit requirements.
Article 18 A fund custodian shall sign a settlement agreement with the relevant securities registration and settlement institution, and bear the relevant responsibilities as a market settlement participant according to law.
The fund custodian and the fund manager shall sign a settlement agreement or stipulate the settlement terms in the fund custody agreement, and clarify the responsibilities of both parties in fund settlement and related risk control. In the process of fund clearing and settlement, if the funds or securities in the fund property are insufficient for settlement, the fund custodian shall promptly notify the fund manager, urge the fund manager to actively take measures to control the default settlement risk and related losses to the maximum extent, and report to the China Securities Regulatory Commission.
Article 19 Fund custodians and fund managers shall conduct valuation accounting in accordance with the Accounting Standards for Business Enterprises and the relevant provisions of the China Securities Regulatory Commission, and regularly evaluate the valuation methods of various financial instruments. If the fund custodian finds that there is an error in the valuation of the net value of the fund share, it shall prompt the fund manager to correct it immediately and take reasonable measures to prevent the loss from further expanding. If the fund custodian finds that there are major errors or major deviations in the valuation of the net value of fund shares, it shall prompt the fund manager to fulfill the disclosure and reporting obligations according to law.
Article 20 A fund custodian shall, in accordance with the provisions of laws and regulations and the provisions of the Fund Contract, handle information disclosure matters related to the fund custody business, including but not limited to: disclosing the fund custody agreement, timely reviewing and giving opinions on the information related to the fund financial report in information disclosure documents such as periodic reports of the fund, issuing custodian reports in the annual and semi-annual reports of the fund, and issuing temporary announcements on major issues such as the change of the head of the fund custody department.
Article 21 A fund custodian shall, according to the fund contract and the custody agreement, formulate the supervision standards and procedures for fund investment, strictly supervise the investment scope, investment proportion, investment style, investment restrictions and related transactions of the custody fund after the fund contract takes effect, and promptly remind the fund manager of the risk of violation.
If it is found that the investment instructions issued by the fund manager but not executed or the effective investment instructions violate laws, administrative regulations and other relevant provisions, or there is an agreement in the fund contract, it shall perform the procedure of notifying the fund manager according to law, report to the China Securities Regulatory Commission in time, continue to track the follow-up treatment of the fund manager, and urge the fund manager to fulfill the disclosure obligation according to law. If the above-mentioned illegal and untrustworthy behavior of the fund manager causes damage to the fund property or fund share holders, the fund custodian shall urge the fund manager to make timely compensation.
Article 22 The fund custodian shall regularly review the performance of the entrusted fund according to the laws and regulations and the agreement on income distribution in the fund contract, and shall notify the fund manager in time and report to the China Securities Regulatory Commission if it finds that the income distribution of the fund is illegal and untrustworthy.
Article 23 A fund custodian shall actively cooperate with the fund manager to convene a meeting of fund share holders on matters such as changing the operation mode of the fund and replacing the fund manager. If the fund manager fails to convene or cannot convene as required, the fund custodian shall convene the fund share holders' meeting as required, and perform the disclosure and reporting obligations according to law.
Article 24 A fund custodian shall not stop conducting fund custody business for a long time after obtaining the qualification of fund custody; In the process of fund custody business, no unfair competition is allowed, no illegal means are allowed to monopolize the market, and no part or all of the entrusted fund property is entrusted to others in violation of the fund custody agreement.
Article 25 A fund custodian shall, in accordance with the principle of marketization, comprehensively consider factors such as the scale of fund custody, product category, service content and difficulty in handling business, and negotiate with the fund manager to determine the calculation method and method of fund custody fee.
The extraction and calculation methods of fund custody fees shall be specified in the fund contract and fund prospectus. Article 26 A fund custodian shall, in accordance with relevant laws and regulations, establish a scientific, reasonable, strict and efficient internal control system for fund custody business, and keep the internal control system for custody business sound and effective.
The fund custodian shall employ an accounting firm with securities business qualifications every year, or the internal audit department of the custodian shall organize relevant review and evaluation on the construction and implementation of the internal control system for the statutory business and value-added business of fund custody, and issue an evaluation report.
Article 27 A fund custodian shall establish an emergency response plan system, and properly handle emergencies that seriously affect the interests of fund share holders, may cause systemic risks or seriously affect social stability according to the plan.
Article 28 A fund custodian shall improve the employee management system, improve the information management and confidentiality system, and strengthen the management of employees' practice behavior and investment funds and other related activities in the fund custodian department.
Employees of the fund custody department shall not use undisclosed information to seek benefits for themselves or others.
Article 29 A fund custodian shall, according to the needs of the development and risk control of custody business, constantly improve the information technology system of custody business, equip sufficient custody business personnel, standardize post responsibilities, strengthen vocational training, and ensure the quality of custody service.
Article 30 A fund custodian shall take measures according to law to ensure that fund custody and fund sales are independent of each other and effectively safeguard the integrity and independence of fund property.
Article 31 If a fund custodian entrusts a qualified overseas asset custodian to conduct overseas asset custody business according to the needs of business development and the provisions of laws, regulations and fund custody agreements, it shall conduct due diligence on the overseas asset custodian, formulate selection criteria and procedures, improve relevant business risk management and emergency handling systems, and strengthen supervision and restraint on the overseas asset custodian.
Article 32 Where a fund custodian conducts value-added services such as fund service outsourcing in accordance with the law in addition to the statutory custody duties, it shall set up a special team and business system to establish necessary business isolation from the original fund custody business team to effectively prevent potential conflicts of interest. Article 33 If an applicant conceals relevant information or provides false application materials when applying for fund custody qualification, the China Securities Regulatory Commission and the China Banking Regulatory Commission will not accept or disapprove it and give a warning; The applicant shall not apply for the qualification of fund custody again within 3 years.
If the applicant obtains the qualification of fund custody by cheating, bribery or other improper means, the China Securities Regulatory Commission will cancel the qualification of fund custody with the China Banking Regulatory Commission, give a warning and a fine, and the China Securities Regulatory Commission will cancel the fund custody business license; The China Banking Regulatory Commission may, according to different circumstances, order the applicant to give disciplinary action to the directly responsible person in charge and other directly responsible personnel, or give a warning, a fine, or prohibit them from engaging in banking work for a certain period of time until life; The applicant shall not apply for the qualification of fund custody again within 3 years; Anyone suspected of committing a crime shall be transferred to judicial organs according to law and investigated for criminal responsibility.
Article 34 Those who engage in fund custody business without obtaining the qualification of fund custody shall be ordered to stop, their illegal income shall be confiscated, and a fine of more than/kloc-0 and less than 5 times of their illegal income shall be imposed; If there is no illegal income or the illegal income is less than one million yuan, a fine of not less than one hundred thousand yuan but not more than one million yuan shall be imposed; Give a warning to the directly responsible person in charge and other directly responsible personnel, and impose a fine of more than 30,000 yuan and less than 300,000 yuan.
Article 35 A fund custodian shall fulfill the following information submission obligations in accordance with the requirements of the China Securities Regulatory Commission:
(1) Supervision report on fund investment operation;
(2) Report on the operation of the fund custody business;
(3) Annual evaluation report on internal control of fund custody business;
(four) other materials required by the China Securities Regulatory Commission in accordance with the principle of prudent supervision.
Article 36 Under any of the following circumstances, the fund custodian shall report to the China Securities Regulatory Commission within 5 days from the date of occurrence:
(1) Significant changes have taken place in the establishment of the fund custody department;
(2) The name and domicile of the custodian or its fund custody department have changed;
(3) The senior management of the fund custody department has changed;
(4) The custodian and senior management personnel of the fund custody department are subject to criminal or administrative punishment, or are placed on file for investigation by regulatory agencies and judicial organs;
(5) Major litigation or arbitration involving custody business;
(6) Other major matters related to the fund custody business.
Article 37 The China Securities Regulatory Commission may, according to the needs of daily supervision, conduct on-site inspection on the fund custody department of the fund custodian and take the following measures:
(1) Requesting to provide documents, meeting minutes, statements, vouchers and other materials related to the inspection items, and consulting and copying the documents related to the inspection items;
(two) require the relevant staff to explain the relevant inspection matters;
(3) Checking the fund custody business system;
(4) Other measures stipulated by the China Securities Regulatory Commission.
After the on-site inspection, the China Securities Regulatory Commission shall issue an inspection conclusion to the fund custodian under inspection. The fund custodian and relevant personnel shall cooperate with the China Securities Regulatory Commission for inspection, and shall not refuse or delay the provision of relevant information or provide untrue, inaccurate or incomplete information for any reason.
Article 38 If a fund custodian violates the provisions of these Measures in the process of conducting fund custody business, the China Securities Regulatory Commission shall order it to make rectification within a time limit, and may suspend new fund custody business during the rectification period; The persons who are directly responsible for the fund custody business and other persons who are directly responsible may take administrative supervision measures such as supervision talks and warning letters.
Article 39 If a fund custodian is under any of the following circumstances, the China Securities Regulatory Commission and the China Banking Regulatory Commission may cancel its fund custody qualification and impose a fine according to law; The directly responsible person in charge and other directly responsible personnel shall be fined by the China Securities Regulatory Commission according to law, and their qualifications for fund practice may be suspended or revoked, and the China Banking Regulatory Commission may also prohibit them from engaging in banking work for a certain period of time until life:
(1) It has not conducted fund custody business for three consecutive years;
(2) Failing to pass the rectification and acceptance within the specified time;
(three) in violation of laws and regulations, the circumstances are serious;
(4) Other circumstances stipulated by laws and regulations. Article 40 These Measures shall apply to domestic legal person commercial banks and other financial institutions established in China according to law.
Article 41 The conditions and procedures for non-bank financial institutions to apply for fund custody qualification shall be formulated separately by the China Securities Regulatory Commission.
Article 42 These Measures shall come into force on April 2, 20 13. The Measures for the Administration of Custody Qualification of Securities Investment Funds jointly issued by China Securities Regulatory Commission and China Banking Regulatory Commission in 20041October 29th +065438+ shall be abolished at the same time.