The China Securities Regulatory Commission (CSRC) has placed the full regulation of fund-related institutions on its agenda. Numerous documents, the governing of the fund-sale system and supervision of fund operations and fund rates will be announced in the near future.
Hong Lei, CSRC’s deputy director of the Fund Department, recently was quoted as saying two documents — the standards for the fund-sale management information platform and the guiding opinions on the internal controls of fund-management companies — have been drafted. They will be made public, for discussion, in the near future. The two documents are aimed at regulating the establishment and structural design of fund-sales institutions.
Also, other action codes, related to the two documents, which will govern salespeople employed by fund-sales institutions, account openings and the procedures, will be released.