China Securities Regulatory Commission: Internet fund must not mislead investors with high risk-free returns

On January 3, the CSRC convened a press conference and regulated the sale of Internet funds at the meeting, claiming that internet funds must not mislead investors with high risk-free returns.

The SFC also said that the Fund's sales promotion activities have formed a covering of the Securities Investment Fund Sales management measures (SFC order 91st), the Securities Investment Fund promotional materials Supervision Matters Supplementary provisions (SFC bulletin [2008]2 number), etc., including a regulatory system. and the Internet fund Sales is the fund sales promotion activities of a class of industry, should follow the existing fund sales business norms.

Recently, the market in the Internet fund promotion activities have appeared one-sided emphasis on money market fund products high returns and risk disclosure, the other marketing activities of the proceeds of confusion for the fund product income and other irregularities. In view of this kind of situation, the CSRC will take corresponding measures to standardize the sales promotion activities of various funds in time.

First, the fund management companies and sales organizations in strict accordance with the rules and regulations required to carry out the fund publicity and promotion activities, full, comprehensive and accurate disclosure of the fund products, the characteristics of the benefits and risk, should not be high income, no risk and other publicity methods to mislead investors;

Secondly, the relevant agencies have been asked to check and take corresponding supervision measures on the irregularities in the marketing promotion activities of some marketing agencies ' funds.

The SFC said has been concerned that some Internet organizations in their financial platform business promotion, there is an investor income composition unclear, confusing the concept of misleading publicity and other irregularities, and some of the business has financial product attributes, for which involved in illegal securities activities, will be dealt with according to law, to protect investors ' rights and interests, Maintain market order.

It is reported that the Hang Seng electronic issued a notice, because the holding subsidiary of Hangzhou several meters fund Sales Co., Ltd. (hereinafter referred to as a few meters fund) Sales fund, the use of illegal advertising terminology, received the Zhejiang Securities Regulatory Bureau of the administrative supervision of the decision book.

The decision book says the several meters fund from December 9, 2013 through the company website and other channels, publicity "several meters wins Bai Ba" activity, to buy money market fund products through several meters fund income subsidy, promotional materials exist "the maximum 8.8% years of income" and other improper terminology, according to the relevant provisions, Zhejiang Securities and Supervision Bureau ordered several meters fund to correct the time limit.