Article 2 The term "fund" as mentioned in these Provisions refers to an open-ended securities investment fund registered with the China Securities Regulatory Commission in accordance with the Securities Investment Fund Law.
The term "fund sales institutions" as mentioned in these Provisions refers to fund managers who handle fund sales business and other institutions registered by the China Securities Regulatory Commission to obtain the qualification of fund sales business.
The term "fund sales expenses" as mentioned in these Provisions refers to the fees charged by fund sales institutions for selling fund shares and handling fund share subscription and redemption in People's Republic of China (PRC).
Innovative closed-end funds and other fund varieties specified by China Securities Regulatory Commission shall be implemented with reference to these provisions.
Article 3 A fund manager shall, in accordance with relevant laws and regulations and these Provisions, formulate a scientific, reasonable, simple and clear fund sales expense structure and rate level, constantly improve the disclosure of fund sales information, and prevent unfair competition.
Article 4 A fund sales institution shall, in accordance with relevant laws, regulations and these Provisions, establish and improve the monitoring mechanism of fund sales expenses, continuously improve the service quality for fund investors, and ensure that the fund sales business is fair, orderly and standardized. Article 5 The sales expenses of a fund include subscription fees, redemption fees and sales service fees.
Article 6 A fund manager may collect subscription fees when selling fund shares and raising funds.
Fund managers can charge subscription fees for the subscription of fund shares.
The subscription fee and subscription fee can be collected at the time of fund share sale or subscription, or deducted from the redemption amount at the time of redemption.
Fund managers can apply different front-end subscription (subscription) rate standards to investors who choose the front-end charging method according to their subscription (subscription) amount.
Fund managers can apply different back-end subscription (subscription) rate standards to investors who choose back-end charging methods according to the holding period. For investors with a holding period of less than 3 years, the fund manager shall not waive the back-end subscription (subscription) fee.
Article 7 A fund manager shall collect redemption fees when redeeming open-end fund shares.
For stock funds and hybrid funds other than those specified in the third paragraph of this article, the fund manager shall stipulate in the fund contract and prospectus that the redemption fee shall be charged according to the following charging standards:
(1) If a sales service fee is charged, a redemption fee of not less than 0.5% shall be charged to the investors whose holding period is less than 30 days, and the above redemption fee shall be fully included in the fund property;
(2) If no sales service fee is charged, a redemption fee of not less than 65,438+0.5% shall be charged to investors with a holding period of less than 7 days, and a redemption fee of not less than 0.75% shall be charged to investors with a holding period of less than 30 days, and the above redemption fee shall be fully included in the fund property; Collect a redemption fee of not less than 0.5% for investors with a continuous holding period of less than 3 months, and include not less than 75% of the total redemption fee into the fund property; Collect a redemption fee of not less than 0.5% for investors with a continuous holding period of more than 3 months but less than 6 months, and incorporate not less than 50% of the total redemption fee into the fund property; For investors with a continuous holding period of more than 6 months, not less than 25% of the total redemption fee is included in the fund property.
For stock funds, hybrid funds and other types of funds, such as trading open-end index funds (ETFs), listed open-end funds (LOF), graded funds, index funds and short-term wealth management products funds, the fund manager can refer to the above standards and stipulate the collection standard of redemption fees and the proportion included in the fund property in the fund contract and prospectus.
Article 8 A fund manager may withdraw a certain sales service fee from the fund property, which shall be used exclusively for fund sales and service for fund holders.
Article 9 A fund sales institution may give certain preferential treatment to the fund sales expenses. Article 10 A fund sales institution shall, in accordance with the requirements of relevant laws and regulations, improve the internal control system and business execution system, improve the internal supervision and feedback system, strengthen the compliance control of the back-office management system on the rate, and strengthen the unified management and supervision of the fund sales expenses of branches.
Article 11 A fund sales institution shall collect sales fees from investors in accordance with the fund contract and prospectus; Without the prospectus and announcement, different rates may not be applied to different investors.
Article 12 A fund manager and a fund sales institution shall stipulate in the fund sales agreement and its supplementary agreement the share proportion of the two parties in the subscription (subscription) fee, redemption fee, sales service fee and other sales expenses, and confirm the fund sales income according to their actual sales expenses, make accounting and bookkeeping according to the facts, and pay taxes according to law.
Article 13 Before selling the fund products of a fund manager, a fund sales institution shall sign a sales agreement with the fund manager to stipulate the payment ratio and method. The fund manager and the fund sales organization may stipulate in the fund sales agreement that a certain proportion of customer maintenance fees shall be drawn according to the amount of funds sold by the sales organization to pay the relevant expenses incurred by the fund sales organization due to customer service and sales activities, and the customer maintenance fees shall be charged from the fund management fee.
The fund manager and the fund sales organization shall clearly stipulate the settlement method and payment method of sales expenses in the fund sales agreement, and shall not sign other supplementary agreements on sales expenses other than customer maintenance fees.
The fund manager shall not pay the customer maintenance fee not based on the sales fund amount to the sales organization, and shall not pay the sales commission or reward in disguise outside the fund sales agreement.
Article 14 A fund sales institution shall not commit any of the following acts in fund sales activities:
(a) commercial bribery in the signing of sales agreements or sales fund activities;
(two) to crowd out competitors, reduce the level of fund fees;
(3) changing the charging items or charging standards to fund investors without announcement, or reducing the charging standards in disguised form by means of collecting first and then returning, financial treatment, etc.;
(4) Selling funds by lottery, kickback or giving away in kind, insurance, fund shares, etc.;
(five) other acts in violation of laws and administrative regulations, disrupting the order of competition in the industry.
Article 15 A fund manager shall specify the following contents about fund sales expenses in the prospectus and the announcement of fund share offering:
(1) Conditions, methods, uses and charging standards for collecting fund sales expenses;
(2) Explain the level of fund sales expenses to investors in a simple and clear format with examples;
(3) Other information matters related to fund sales expenses as stipulated by China Securities Regulatory Commission.
Article 16 The fund manager shall disclose the amounts of management fees, custody fees and fund sales service fees accrued from the fund property in the semi-annual report and annual report of the fund, and explain the total customer maintenance fees paid to the fund sales institutions in the management fees.
Article 17 A fund manager shall list the specific payment items and usage of the total fund sales expenses and customer maintenance fees paid from management fees in the quarterly supervision and audit report. Article 18 The China Securities Regulatory Commission shall supervise and inspect the implementation of these Provisions by fund sales institutions according to law, and take administrative supervision measures or impose administrative penalties according to relevant laws and regulations.
Article 19 These Provisions shall come into force on August 20th, 20 1+03.