To operate a company, it shall meet the following conditions and be approved by the China Securities Regulatory Commission:
(1) Having articles of association that conform to the provisions of the Securities Investment Fund Law of People's Republic of China (PRC) and the Company Law of People's Republic of China (PRC);
(2) The registered capital shall not be less than 1 billion yuan, and it must be paid-in monetary capital;
(3) The major shareholder has good experience in securities business, securities investment consulting, trust asset management or other financial asset management.
Its business performance and social reputation are good, it has no illegal record in the last three years, and its registered capital is not less than 300 million yuan;
(four) the number of personnel who have obtained the qualification for fund practice has reached a quorum;
(5) Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;
(6) Having a sound internal audit monitoring system and risk control system;
(seven) other conditions stipulated by laws, administrative regulations and the State Council securities regulatory agency approved by the State Council.
In addition, as the major shareholder of a fund company, it is also stipulated that the major shareholder of a fund management company means that the capital contribution accounts for the registered place of the fund management company.
Shareholders with the highest capital contribution ratio (hereinafter referred to as the capital contribution ratio) and not less than 25%. Major shareholders shall meet the following conditions:
(a) engaged in securities business, securities investment consulting, trust asset management or other financial asset management;
(2) Its registered capital is not less than 300 million yuan;
(3) Good business performance and good asset quality;
(4) It has been operating continuously for more than three complete fiscal years, with sound corporate governance and sound internal control system;
(5) It has not been subjected to administrative punishment or criminal punishment for illegal acts in the last three years;
(six) whether there is any misappropriation of customer assets and other acts that harm the interests of customers;
(7) It is not being investigated by the regulatory authorities due to illegal acts, or it is being rectified;
(eight) has a good social reputation, in the last three years in the tax, industry and commerce and other administrative organs, as well as financial supervision, self-discipline management, commercial banks.
Banks and other institutions have no bad records.
If it is a shareholder other than the major shareholder of the fund company, the registered capital and net assets should be no less than 654.38 billion yuan, and the asset quality is good.
, and meet the conditions stipulated in the second paragraph (four) to (eight) of the preceding article.
Sino-foreign joint venture fund company
The state allows the establishment of Sino-foreign joint venture fund companies. In a Sino-foreign joint venture fund management company, the domestic shareholder with the highest proportion of capital contribution shall hold the certificate.
The conditions for major shareholders stipulated in the second paragraph of Article 7 of the Measures for the Administration of Securities Investment Fund Management Companies; Other domestic shareholders shall meet the requirements of Article 8.
Conditions:
An overseas shareholder of a Sino-foreign joint venture fund management company shall meet the following conditions:
(1) It is a financial institution established in accordance with the laws of the country or region where it is located, legally exists and has experience in financial asset management, and is in good financial condition.
It has a good credit status and has not been punished by the regulatory authorities or judicial organs in the last three years;
(2) The country or region where it is located has a sound securities law and regulatory system, and its securities regulatory agency cooperates with the China Securities Regulatory Commission or the China Securities Regulatory Commission.
Other institutions recognized by the China Securities Regulatory Commission have signed a memorandum of understanding on securities regulatory cooperation and maintained an effective regulatory cooperation relationship;
(3) The equivalent convertible currency with paid-in capital of not less than 300 million yuan;
(4) Other conditions approved by the State Council and stipulated by China Securities Regulatory Commission.
The provisions of the preceding paragraph shall apply mutatis mutandis to investment institutions in Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Province Province.
Shareholder restrictions of fund companies
Shareholders of a fund management company may not hold shares of other shareholders or have the rights and interests of other shareholders; It shall not belong to the same entity as other shareholders.
The international controller may have other related relationships. The proportion of foreign investment or equity of Sino-foreign joint venture fund management companies, cumulative (including direct
Holding and indirect holding) shall not exceed the commitment of the national securities industry to opening up.
The number of shares held by an institution or institutions controlled by the same actual controller in a fund management company shall not exceed two, including the shareholding base.
The number of gold management companies shall not exceed one (this requirement is commonly known as "one participation and one control").
Qualification of fund company personnel
It is mainly supervised by these ministries and commissions: Measures for the Administration of the Qualification of Employees in the Securities Industry and Measures for the Administration of the Appointment of Senior Managers in the Securities Investment Fund Industry.
Management Measures, Guiding Opinions on the Management of Investment Managers of Fund Management Companies and Regulations on the Management of Inspectors of Securities Investment Fund Management Companies.
Among them, for the general fund company personnel, it is necessary to obtain the qualification of fund practice. Fund qualification in the securities industry
The Measures for the Administration of Staff Qualifications are not clearly stipulated, but the CSRC stipulates that those who meet one of the following conditions can be considered as qualified for fund practice.
Case:
(1) Having the qualification certificate of fund practice issued by China Securities Industry Association;
(two) through the securities industry qualification examination "basic knowledge of the securities market" and "securities investment fund" examination;
(3) Having participated in the qualification training course for senior managers of fund industry held by China Securities Regulatory Commission or China Securities Association before 2003.
, and passed the exam;
(four) to obtain overseas funds or asset management, fund sales and other related qualifications. , or there is no requirement in the country (region) where you practice.
Relevant qualifications, engaged in asset management, securities investment analysis, fund marketing and other businesses in the last 5 years, and passed the China Securities Regulatory Commission or
Examination or evaluation organized by China Securities Industry Association.
The senior managers of the securities investment fund industry (generally referred to as senior managers) refer to the chairman, general manager and deputy directors of the fund management company.
The general manager, inspector general and other personnel who actually perform the above duties of the fund custody bank, and the general manager and deputy general manager of the fund custody department.
Other personnel who actually perform the above duties. The specific requirements are stipulated in the Measures for the Administration of Senior Managers of Securities Investment Fund Industry. In ...
The inspector general is a senior manager who supervises and inspects the legal compliance of the operation of funds and fund management companies and the internal risk control of the companies.
There are specific provisions in the Regulations on the Administration of the Inspector General of Securities Investment Fund Management Companies.
For fund managers, although they are not senior managers in the securities investment fund industry, they are appointed as senior managers in the securities investment fund industry.
The post management measures and the guiding opinions on the management of investment managers of fund management companies also have provisions on the appointment and removal of fund managers.