1, convergence of interests. The two are cooperative relations. When designing the product, the manager and the custodian * * * agree to design the product and negotiate the rate.

2. Insufficient regulatory motivation. After the fund is managed, the custodian is lazy to exercise supervision considering the scale income.

3. The unenforceability of laws and regulations. For managers who have different products in different custodians, the total assets that cannot be managed by the supervisor cannot exceed a certain proportion of the securities issued.