According to the provisions of the Measures for the Sale of Publicly Offered Funds, commercial banks, securities companies, futures companies, insurance companies, insurance brokerage companies, insurance agencies, securities investment consulting institutions and independent fund sales institutions can engage in fund sales business after applying for the qualification of registered fund sales business and the securities and futures business license from the local China Securities Regulatory Commission. Institutions holding fund sales licenses can sell publicly offered funds and asset management products of publicly offered securities companies.