SFC Notified Violations Of Assets Management Business Penalties

China Securities Regulatory Commission spokesman Deng Ge reported on 29 days that some securities companies and fund subsidiaries violating asset management business and punishing them.

　　 Deng Ge The securities and Futures Commission recently organized the relevant securities regulatory commission and the China Securities Investment Fund Association to conduct a special on-site inspection of the assets management business of 6 securities companies and 8 gold based subsidiaries.

The inspection found that some companies had problems that they did not have the fund sales qualification agencies to sell asset management products, and violate spanactions between their different asset management products. Some of the company's classified asset management products were also suspected of illegal activities such as profit spanfer and insider trading. These behaviors violate the relevant regulations of asset management business of securities companies and fund subsidiaries, and harm the interests of investors.

　　 Deng Ge 说，证监会对这些违法行为分别作出处理：对分级资产管理产品涉嫌利益输送、内幕交易等违法行为的，依法移送证监会稽查部门查处;对存在委托不具有基金销售资格机构销售资产管理产品、进行有失公允的关联交易、重要信息未及时向投资人披露等违规行为的万家共赢资产管理有限公司、金元百利资产管理有限公司、深圳华宸未来资产管理有限公司等3家基金子公司采取责令整改、暂不受理公司业务备案的监管措施，同时暂停管理失责的母公司的业务申请，并对母子公司的相关责任人员采取了认定不适当人选、出示警示函等监管措施;对1家基金子公司及2家证券公司采取责令整改的监管措施;对1家证券公司资产管理部门多名从业人员不具备证券执业资格的问题，由中国证券业协会采取责令改正等自律惩戒措施。

　　 meanwhile For those institutions that have violating the law, the fund association decided to suspend the application for asset management products of 3 gold based subsidiaries and their parent companies, written warnings to 2 securities companies and 3 gold base subsidiaries, and communicated with the 4 companies before making a product record.

Deng Ge said that the SFC will continue to strictly follow the requirements of "deregulation and strengthening supervision" to strengthen the post supervision of assets management business of securities institutions. In particular, in the most dynamic private equity sector, the SFC will accelerate the establishment of a regulatory framework for private equity funds, guide the fund industry association to do a good job in the registration and filing of private equity funds, establish a unified information submission and monitoring mechanism, conduct a problem oriented on-site inspection, establish a coordination mechanism with local governments, and assist local governments in cracking down on all kinds of illegal fund-raising activities in the name of private equity funds.