Our life is closely related to the bank. We can deposit idle funds in the bank or buy the bank's financial products. Compared with other financial products, the bank's financial products are more safe and reliable! However, with the continuous development and growth of financial products, there are also some problems. Therefore, China Banking and Insurance Regulatory Commission has also put forward some new rules. What changes will be made in the investment market under the action of these rules?
New regulations on bank financial management I: new cooling off period for private financial management
In terms of sales of private financial products, learn from the common practices at home and abroad and introduce the requirement of no less than 24-hour investment cooling off period. In addition, it further improves the pertinence and accuracy of the terms.
For private financial products, the bank shall agree on an investment cooling off period of no less than 24 hours in the sales documents. During the cooling off period, if the investor changes his decision, the bank shall comply with the wishes of the investor, terminate the signed sales documents and return all the investment funds of the investor in time.
The relevant person in charge of the cbcirc said that this amendment is mainly to learn from the common practices at home and abroad, which is more conducive to protecting the rights and interests of investors.
Impact: the insurance industry has long had a cooling off period. The introduction of a 24-hour cooling off period in bank financial management gives customers more time to consider, and is also conducive to reducing disputes in the field of bank financial management.
New regulations on bank financial management II: access to the stock market through public offering financial management
It is reported that the current bank financial supervision business system allows private financial products to directly invest in stocks, and public financial products can not invest in stocks. In addition, they can not directly invest in stocks, and when investing in public funds, they can only invest in monetary and bond funds.
As for the issues concerned by the market, such as whether public financing products can invest in stocks, according to the measures, public financing can invest in stocks through public funds. The CBRC has relaxed the requirements for public financing investment in public funds. According to the regulatory requirements, public financing products can invest in all kinds of public funds no matter what type of public fund products in the future.
Impact: the investment scope of public financing products has been greatly expanded, and almost all public fund products can be invested, which is not only conducive to the development of public financing products, but also conducive to the development of public fund industry.
New regulations on bank financial management III: financial management subsidiaries shall carry out business independently
In accordance with the relevant requirements of the new asset management regulations on corporate governance and risk isolation, the Measures stipulate that commercial banks should carry out financial management business through subsidiaries with independent legal person status; If the conditions are not met for the time being, the head office of a commercial bank shall establish a special department for financial management business to implement centralized and unified operation and management of financial management business.
The person in charge of relevant departments of the cbcirc said that in the next step, after the bank carries out financial management business through its subsidiaries, it is allowed to directly invest in public financing products issued by its subsidiaries or indirectly invest in stocks by other means. The relevant requirements are specified in the measures for the administration of financial management subsidiaries of commercial banks.
Impact: it is the requirement of the new asset management regulations that the bank's financial management subsidiaries independently carry out the business of financial products. Although the cbcirc has not fully formulated the measures for the management of financial management subsidiaries of commercial banks this time, it has made clear this management requirement: in the future, the independent bank's financial management subsidiaries will be responsible for the financial products.
New banking regulation 4: investable property supporting notes
Financial products of commercial banks can be invested in treasury bonds, local government bonds, central bank bills, government agency bonds, financial bonds, bank deposits, certificates of large deposits, inter-bank certificates of deposit, corporate credit bonds, asset-backed securities issued in the inter-bank market and stock exchange market, public securities investment funds, other creditor's rights assets Equity assets and other assets recognized by the banking regulatory authority under the State Council.
In terms of investment scope, penetration management and financial investment consultant management of financial products, market feedback was adopted to further clarify relevant requirements, such as making it clear that asset-backed securities (including ABN) issued in the inter-bank market belong to the investment scope of financial products.
Impact: asset-backed securities or bills have developed rapidly in recent years and are also innovative financial products advocated by regulators. Securities companies, banks and fund subsidiaries all have this part of business. The investment scope of bank financial products is expanded to asset-backed securities, which is good for bank financial management and asset-backed securities.
New banking regulation 5: investment needs to be signed on site
In terms of investor protection, individuals need to sign face-to-face for their first purchase. Continuing the current regulatory requirements, when individuals purchase financial products for the first time, they shall conduct risk tolerance assessment and face-to-face signing at bank outlets.