Internet companies to apply for financial products sales qualification there should be no legal prohibition

The integration of the Internet and finance has been accelerating gradually to the sales of financial products, deepening the definition of "internet finance" has been enriched. Cross-border integration inevitably leads to overlapping and blurring zones, and new problems will continue to emerge in these zones.

Baidu "8%" no longer

Baidu and Huaxia funds to cooperate with the wealth management products "hundred", become the current Internet and fund sales Integration field a typical case.

Recently, Baidu launched the first with the Chinese fund to cooperate with the financial products "hundred", many investors said by its propaganda misleading, that the financial products are "capital preservation guaranteed Income 8%".

In the media questioned its false propaganda, false sales, and by the SFC to understand the relevant investigation, Baidu deleted the original 8% of the propaganda content, replaced by "Enjoy current convenience, far exceed current income" propaganda language.

Baidu financial Products "hundred hair" October 28 on line, on the day of the sale of investors "Seconds kill", the day sales of more than 1 billion yuan, to participate in the purchase of more than 120,000 users. Many investors said that the purchase of the financial products is directed at the "target annual yield of 8%" to go, but the rate of return on the day of purchase is not 8%.

Now, to open the website of Baidu Financial management, financial planning, "Baidu Finance B" corresponding to "China cash increase currency e", October 31 7th Annual return rate of 4.84%.

The SFC said that the Chinese fund and Baidu had previously reported on the Business Cooperation Program was reviewed, its submission of the business plan did not involve 8% guaranteed income and other illegal content. Baidu and Huaxia fund submitted by the Cooperation program shows that there is no guaranteed income of 8% of the content. The SFC endorses this cooperation in the absence of any violations of the contents of the scheme.

"The combination of the Fund and the Internet and their cooperation is responsive to the needs of the market." In fact, the market already has the demand of this kind of cooperation, indeed can bring great convenience to the investor. So we have to adapt to this demand. "The relevant head of the Securities and Futures Commission said Friday.

The role of Baidu

Yesterday afternoon, the Securities and Futures Commission said in the press conference, the current Internet and the fund is mainly the integration of Alipay Direct payment model and Sina's jump mode. Alipay plays the role of the Fund's Third-party E-commerce platform. Baidu in the fund sales, in essence, like Sina is a jump mode, but the page is not the same.

The SFC believes that in the Chinese fund and Baidu cooperation model, Baidu only to play the role of flow import, did not participate in the fund sales business. Because investors trading account opening, redemption transactions, fund payment and liquidation, as well as follow-up customer service and other fund sales business links by the Huaxia fund.

For Baidu's "flow import role", many media have questioned. Baidu Financial Planning in the completion of registration information needs to "confirm" the "Baidu Finance Center service Agreement" shows that Baidu Financial Center service refers to the Beijing Hundred Pay Technology Co., Ltd. for investors can provide through the company's system and cooperative financial institutions (including but not limited to insurance companies, banks, fund companies, securities companies, etc., hereinafter ) system, which will be related to financial products (including but not limited to insurance, funds, stocks, bonds, etc., in the company's online front-line system for the relevant display, promotion, and according to the instructions of investors, the relevant financial products transactions submitted, transfer funds, information inquiries and other applications of technical services.

Then only to play the "flow import" role of Baidu, whether you can carry out financial products promotion? Has the referral been involved in the sales process? In response to a reporter's question, the Securities and Futures Commission said that Baidu is not a fund sales organization, it did not qualify, did not carry out fund sales.

Internet and fund sales business integration, there will be ambiguous boundary problems, as well as some new problems. Regarding the processing way of the boundary obscure zone, the SFC has a clear attitude, that is, to discuss how to use Internet technology to provide more convenient service to the investors, and to consider how to support the development of Internet fund sales business while actively communicating with each other.

In the future, the Internet and financial integration of the depth and breadth is still difficult to predict, but the regulator said that internet companies to apply for financial products sales qualifications should not be prohibited by law. "You should be able to apply for a fund sales qualification as long as it meets regulatory requirements." The official said.