| | |
Announcement of the China Securities Regulatory Commission
(No. 29 [2012])
The Detailed Rules for the Collective Asset Management Business of Securities Companies are hereby issued and shall come into force on the date of issuance.
China Securities Regulatory Commission
October 18, 2012
Detailed Rules for the Collective Asset Management Business of Securities Companies
| | 中国证券监督管理委员会公告
（〔2012〕29号）
现公布《证券公司集合资产管理业务实施细则》，自公布之日起施行。
中国证券监督管理委员会
2012年10月18日
证券公司集合资产管理业务实施细则
|
Chapter I General Provisions
| | 第一章 总 则
|
Article 1 In order to regulate the collective asset management business of securities companies, these Detailed Rules are formulated in accordance with the Securities Law of the People's Republic of China, the Regulation on the Supervision and Administration of Securities Companies and the Administrative Measures for the Client Asset Management Business of Securities Companies (Order No. 87 of the China Securities Regulatory Commission, hereinafter referred to as the “Administrative Measures”).
| | 第一条 为了规范证券公司集合资产管理业务活动，根据《中华人民共和国证券法》、《证券公司监督管理条例》、《证券公司客户资产管理业务管理办法》（证监会令第87号，以下简称《管理办法》），制定本细则。
|
Article 2 These Detailed Rules shall apply to the business of collective asset management carried out within the territory of the People's Republic of China.
Where there are any different provisions of laws, administrative regulations and the China Securities Regulatory Commission (CSRC) regarding the collective asset management business of securities companies, such provisions shall apply.
| | 第二条 证券公司在中华人民共和国境内从事集合资产管理业务，适用本细则。
法律、行政法规和和中国证券监督管理委员会（以下简称中国证监会）对证券公司集合资产管理业务另有规定的，从其规定。
|
Article 3 Where securities companies undertake the collective asset management business, they shall comply with the laws, administrative regulations and provisions of the CSRC, and follow the principles of being fair and impartial; being honest and trustworthy, prudent and diligent; adhering to fair trade, avoiding conflicts of interests, prohibiting the transfer of interest and protecting the legitimate rights and interests of clients.
| | 第三条 证券公司从事集合资产管理业务，应当遵守法律、行政法规和中国证监会的规定，遵循公平、公正原则；诚实守信，审慎尽责；坚持公平交易，避免利益冲突，禁止利益输送，保护客户合法权益。
|
Article 4 Where securities companies undertake the collective asset management business, they shall establish a sound risk management and internal control system to regulate their business activities and prevent and control risks.
| | 第四条 证券公司从事集合资产管理业务，应当建立健全风险管理与内部控制制度，规范业务活动，防范和控制风险。
|
Article 5 Where securities companies undertake the collective asset management business, they shall provide services for specific clients, set up collective asset management plans (hereinafter referred to as the "collective plans” or “plans”) and serve as managers of the plans.
Specific clients shall be securities companies' own clients, or the clients of agent promotion agencies, and the minimum capital involved shall comply with the provisions of the CSRC.
| | 第五条 证券公司从事集合资产管理业务，应当为特定客户提供服务，设立集合资产管理计划（以下简称集合计划或计划），并担任计划管理人。
特定客户应当是证券公司自身的客户，或者是代理推广机构的客户，并且参与资金最低限额符合中国证监会的规定。
|
Article 6 The assets of collective plans shall be independent from the self-owned assets of securities companies and asset custody institutions. Securities companies and asset custody institutions shall not include the assets of collective plans into their self-owned assets.
When securities companies and asset custody institutions are declared bankrupt or are being liquidated, the assets of collective plans shall not be treated as their bankruptcy property or liquidation property.
| | 第六条 集合计划资产独立于证券公司和资产托管机构的自有资产。证券公司、资产托管机构不得将集合计划资产归入其自有资产。
证券公司、资产托管机构破产或者清算时，集合计划资产不属于其破产财产或者清算财产。
|
Article 7 Securities companies and their promotion agencies shall not include the settlement funds from the sale of collective plans into their self-owned assets. When securities companies and their promotion agencies are declared bankrupt or being liquidated, the settlement funds from the sale of collective plans shall not be treated as their bankruptcy property or liquidation property. No entity or individual may misappropriate the settlement funds from the sale of collective plans in any form.
The term “settlement funds from the sale of collective plans” refers to the funds collected by securities companies and their promotion agencies and transferred between clients' settlement accounts, the special accounts designated by the entities which register the shares of collective plans and the custody accounts of the assets of collective plans which participate in or withdraw from or enjoy cash dividends from collective plans.
| | 第七条 证券公司及其推广机构不得将集合计划销售结算资金归入其自有资产。证券公司及其推广机构破产或者清算时，集合计划销售结算资金不属于其破产财产或者清算财产。任何单位和个人不得以任何形式挪用集合计划销售结算资金。
集合计划销售结算资金是指由证券公司及其推广机构归集的，在客户结算账户、集合计划份额登记机构指定的专用账户和集合计划资产托管账户之间划转的份额参与、退出、现金分红等资金。
|
Article 8 The CSRC shall, in accordance with the provisions of laws, administrative regulations, the Administrative Measures and these Detailed Rules, supervise and manage the collective asset management business of securities companies.
| | 第八条 中国证监会依据法律、行政法规、《管理办法》和本细则的规定，监督管理证券公司集合资产管理业务活动。
|
Article 9 Stock exchanges, securities depository and clearing institutions and the Securities Association of China shall, in accordance with laws, administrative regulations, the Administrative Measures, these Detailed Rules and relevant rules, conduct self-disciplinary management and industrial guidance on the collective asset management business of securities companies.
| | 第九条 证券交易所、证券登记结算机构、中国证券业协会依据法律、行政法规、《管理办法》、本细则及相关规则，对证券公司集合资产管理业务活动进行自律管理和行业指导。
|
Chapter II Filing Procedures
| | 第二章 备案程序
|
Article 10 Within five days after a securities company establishes a collective asset management plan, it shall file the information on the plan establishment with the Securities Association of China for records, concurrently send a copy to the local CSRC office in the place where the securities company or asset management branch is located and submit the following materials:
| | 第十条 证券公司发起设立集合资产管理计划后5日内，应当将发起设立情况报中国证券业协会备案，同时抄送证券公司住所地、资产管理分公司所在地中国证监会派出机构，并提交下列材料：
|
1. a report for filing;
| | （一）备案报告；
|
2. a description of the plan, the template of contract and a risk disclosure statement;
| | （二）集合资产管理计划说明书、合同文本、风险揭示书；
|
3. the asset custody agreement;
| | （三）资产托管协议；
|
4. the compliance review opinion of a compliance director;
| | （四）合规总监的合规审查意见；
|
5. an explanation of the existing collective plans' operation and asset management staff;
| | （五）已有集合计划运作及资产管理人员配备情况的说明；
|
6. commitment to compliance with laws and regulations in subsequent investment operations; and
| | （六）关于后续投资运作合法合规的承诺；
|
7. other materials as required by the CSRC.
The letter of explanation of the plan is an integrated part of the collective asset management contract which has the same legal effect as the collective asset management contract.
| | （七）中国证监会要求提交的其他材料。
计划说明书是集合资产管理合同的组成部分，与集合资产管理合同具有同等法律效力。
|
Article 11 Where a securities company is engaged in the collective asset management business, it shall, in accordance with the provisions of laws, administrative regulations and the CSRC, sign a collective asset management contract with its clients and an asset custody institution to specify the rights and obligations of the client, the securities company and the asset custody institution.
A collective asset management contract shall include the essential contract clauses developed by the Securities Association of China.
| | 第十一条 证券公司从事集合资产管理业务，应当依据法律、行政法规和中国证监会的规定，与客户、资产托管机构签订集合资产管理合同，约定客户、证券公司、资产托管机构的权利义务。
集合资产管理合同应当包括中国证券业协会制定的合同必备条款。
|
Article 12 A collective asset management contract shall include a risk disclosure clause which shall specify the meaning, characteristics and possible consequences of the following risks:
| | 第十二条 集合资产管理合同应当包括风险揭示条款，详细说明下列风险的含义、特征和可能引起的后果：
|
1. market risk;
| | （一）市场风险；
|
2. management risk;
| | （二）管理风险；
|
3. liquidity risk;
| | （三）流动性风险；
|
4. the risks of securities company's failing to perform its duties due to suspension of business, dissolution, revocation, bankruptcy or other reasons such as the revocation of the license for relevant business by the CSRC; and
| | （四）证券公司因停业、解散、撤销、破产，或者被中国证监会撤销相关业务许可等原因不能履行职责的风险；
|
5. other risks.
A securities company shall make a risk disclosure statement fully revealing the meaning, characteristics and possible consequences of the aforementioned risks. A risk disclosure statement shall be pertinent in content, clear, explicit and easy to understand in expression and be in line with the standard format developed by the Securities Association of China. A securities company and its agent promotion agencies shall submit a risk disclosure statement to clients for signature and confirmation. When clients sign a risk disclosure statement, it indicates that they have understood and are willing to bear the risks involved in the collective asset management business on their own.
| | （五）其他风险。
证券公司应当制作风险揭示书，充分揭示上述风险的含义、特征、可能引起的后果。风险揭示书的内容应当具有针对性，表述应当清晰、明确、易懂，符合中国证券业协会制定的标准格式。证券公司、代理推广机构应当将风险揭示书交客户签字确认。客户签署风险揭示书，即表明已经理解并愿意自行承担参与集合计划的风险。
|
Article 13 The Securities Association of China shall, in accordance with laws, administrative regulations, the Administrative Measures, these detailed Rules and other relevant provisions, review the materials filed for the securities companies' establishment of collective plans; and when necessary, conduct an on-site inspection on the establishment of collective plans.
| | 第十三条 中国证券业协会依照法律、行政法规、《管理办法》、本细则和其他相关规定，对证券公司设立集合计划的备案材料进行审阅；必要时，对集合计划的设立情况进行现场检查。
|
Chapter III Business Rules
| | 第三章 业务规则
|
Article 14 The funds raised through collective plans shall be used for investment in stocks, bonds, securities investment funds, bills of the central bank, short-term financing bonds, asset-backed securities, medium-term notes, stock index futures and other financial derivatives, commercial banks' financial management plans with guaranteed proceeds or with guaranteed principal but floating proceeds and other investment products approved by the CSRC.
Collective plans may participate in margin trading and short selling, and may also loan the securities they hold to securities finance companies as underlying securities for margin trading.
Securities companies may legally establish collective plans to raise funds within the territory to invest in overseas financial products approved by the CSRC
| | 第十四条 集合计划募集的资金应当用于投资中国境内依法发行的股票、债券、证券投资基金、央行票据、短期融资券、资产支持证券、中期票据、股指期货等金融衍生品、保证收益及保本浮动收益商业银行理财计划以及中国证监会认可的其他投资品种。
集合计划可以参与融资融券交易，也可以将其持有的证券作为融券标的证券出借给证券金融公司。
证券公司可以依法设立集合计划在境内募集资金，投资于中国证监会认可的境外金融产品。
|
Article 15 The funds raised through specific asset management plans with limited amounts may be invested in the investment products as prescribed in Article 14, in commodity futures and other investment products traded in securities and futures exchanges, interest rate forwards, interest rate swaps and other investment products traded in inter-bank markets, securities companies' special asset management plans, commercial banks' financial management plans, trust plans of assembled funds and other financial products approved by or issued after filing with the financial regulatory department and other investment products approved by the CSRC.
The term “specific asset management plan with limited amounts” as mentioned in the preceding paragraph refers to the collective asset management plans that meet the following conditions:
| | 第十五条 限额特定资产管理计划募集的资金，可以投资于第十四条规定的投资品种，商品期货等证券期货交易所交易的投资品种，利率远期、利率互换等银行间市场交易的投资品种，证券公司专项资产管理计划、商业银行理财计划、集合资金信托计划等金融监管部门批准或备案发行的金融产品以及中国证监会认可的其他投资品种。
前款所称的限额特定资产管理计划是指符合下列条件的集合资产管理计划：
|
1. the scale of fund-raising is not more than 5 billion yuan;
| | （一）募集资金规模在50亿元以下；
|
2. the amount invested in by a single participating client is not less than 1 million yuan; and
| | （二）单个客户参与金额不低于100万元；
|
3. the number of clients is not more than 200, but the number of clients whose single entrusted amount is more than 3 million yuan is not restricted.
| | （二）客户人数在200人以下，但单笔委托金额在300万元以上的客户数量不受限制。
|
Article 16 A securities company shall designate an investment sponsor to take charge of the investment and administration of collective plans.
Where investment sponsors change, the securities company shall, in advance or within a reasonable time, disclose such change in a way as prescribed in the collective asset management contract and file a report with the local CSRC office and the Securities Association of China in the place where the securities company or asset management branch is located.
| | 第十六条 证券公司应当指定投资主办人，负责集合计划的投资管理事宜。
投资主办人发生变更的，证券公司应当提前或者在合理时间内按照集合资产管理合同约定的方式披露，并向住所地、资产管理分公司所在地中国证监会派出机构及中国证券业协会报告。
|
Article 17 A Securities company and its agent promotion agencies shall, in accordance with relevant rules, find out the clients' identity, property and income, its experience in securities investment, risk bearing capacity and investment preferences, and document the information in writing and electronically for safekeeping. Agent promotion agencies shall provide the information and materials they keep for securities companies.
Clients shall truthfully disclose or provide relevant information and materials and commit in the collective asset management contract that the information and materials are authentic.
| | 第十七条 证券公司、代理推广机构应当按照有关规则，了解客户身份、财产与收入状况、证券投资经验、风险承受能力和投资偏好等，并以书面和电子方式予以详细记载、妥善保存。代理推广机构应当将其保存的客户信息和资料向证券公司提供。
客户应当如实披露或者提供相关信息和资料，并在集合资产管理合同中承诺信息和资料的真实性。
|
Article 18 A securities company and its agent promotion agencies shall, as agreed upon in the collective asset management contracts and promotion agency agreements, promote the collective plans, truthfully disclose the securities company's business qualifications to clients, comprehensively and accurately introduce the collective plans' product features, investment direction and risk-return characteristics, explain relevant business rules, the description of the plans, the content of collective asset management contracts and the operation methods for clients' investment in the collective plans, and fully reveal the investment risks.
| | 第十八条 证券公司、代理推广机构应当按照集合资产管理合同和推广代理协议的约定推广集合计划，向客户如实披露证券公司的业务资格，全面、准确地介绍集合计划的产品特点、投资方向、风险收益特征，讲解有关业务规则、计划说明书和集合资产管理合同内容以及客户投资集合计划的操作方法，并充分揭示投资风险。
|
Article 19 During the promotional period of a collective plan, a securities company and its agent promotion agencies shall place the description of the plans, the template of the collective asset management contract as well as other promotional materials in its business place.
The description of the plans and the template of the collective asset management contracts shall be consistent with the text as filed with the Securities Association of China for records. Promotional materials shall be concise and easy to understand.
| | 第十九条 集合计划推广期间，证券公司、代理推广机构应当将计划说明书、集合资产管理合同文本和推广材料置备于营业场所。
计划说明书、集合资产管理合同文本应当与向中国证券业协会备案的文本内容一致。推广材料应当简明、易懂。
|
Article 20 A securities company and its agent promotion agencies shall, based on their understanding of clients, recommend the collective plans that match the clients' risk bearing capacity, and guide clients to make prudently investment decisions.
| | 第二十条 证券公司、代理推广机构应当根据了解的客户情况，推荐与客户风险承受能力相匹配的集合计划，引导客户审慎作出投资决定。
|
Article 21 It is prohibited to promote collective plans by television, newspaper, radio or other public media. It is prohibited to promote collective plans by signing supplemental agreements on guaranteed principal or proceeds, or using false propaganda, exaggerated expected benefits and commercial bribery and any other improper means.
| | 第二十一条 禁止通过电视、报刊、广播及其他公共媒体推广集合计划。禁止通过签订保本保底补充协议等方式，或者采用虚假宣传、夸大预期收益和商业贿赂等不正当手段推广集合计划。
|
Article 22 Clients shall, in their real identity, participate in collective plans, and the sources and purposes of entrusted assets shall comply with laws and regulations, on which clients shall make a clear commitment in the collective asset management contract. Where any client fails to make a commitment thereon or the securities company or its agent promotion agencies evidently know that the identity of such client is unreal or the source or purpose of the entrusted assets is illegal, the securities company and its agent promotion agencies shall not accept them to participate in collective plans.
．．．．．． | | 第二十二条 客户应当以真实身份参与集合计划，委托资金的来源、用途应当符合法律法规的规定，客户应当在集合资产管理合同中对此作出明确承诺。客户未作承诺，或者证券公司、代理推广机构明知客户身份不真实、委托资金来源或者用途不合法的，证券公司、代理推广机构不得接受其参与集合计划。
．．．．．． |
Dear visitor,you are attempting to view a subscription-based section of lawinfochina.com. If you are already a subscriber, please login to enjoy access to our databases . If you are not a subscriber, please subscribe . Should you have any questions, please contact us at:
+86 (10) 8268-9699 or +86 (10) 8266-8266 (ext. 153)
Mobile: +86 133-1157-0713
Fax: +86 (10) 8266-8268
database@chinalawinfo.com
| |
您好：您现在要进入的是北大法律英文网会员专区，如您是我们英文用户可直接 登录，进入会员专区查询您所需要的信息；如您还不是我们 的英文用户，请注册并交纳相应费用成为我们的英文会员 。如有问题请来电咨询；
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570713
Fax: +86 (10) 82668268
E-mail: database@chinalawinfo.com
|
| | | |
| | | |