SFC reiterates that electricity dealers provide services to fund sales companies without licence

Yesterday, the SFC reiterated that the company to provide services to fund sales companies do not need a licence, and said that the current only Taobao through the SFC review no objections. In addition, the SFC once again declared that Baidu and Huaxia fund cooperation does not involve non-compliance.

No Internet fund sales license issued to Taobao

The Securities and Futures Commission responded yesterday that some media outlets said the "Taobao access to Internet fund sales licence" was inaccurate. A spokesman for the SFC said the SFC had no objections to Taobao's offer of ancillary services to the Fund's sales agencies, rather than issuing licences.

In fact, in March this year, the SFC issued the "Securities Investment fund sales agencies through Third-party E-commerce platform to carry out business management interim provisions", the electric dealer for the fund sales agencies to carry out the fund sales business does not require a licence.

However, the SFC also made provisions on the qualification conditions and business boundaries of the electric business platform.

Previously, the market rumors that suning and other institutions are also in the preparation of their platform to introduce the fund sales agencies. The SFC responded by saying that it has provided a business plan and submitted relevant materials, and that there is only Taobao through the SFC's review of uncontested institutions.

The SFC also pointed out that the marketing business of the Internet Fund should also follow the business rules of the fund sales, and the SFC would monitor and regulate it in accordance with existing regulations.

Tight outer pine in regulatory scale

Yesterday, a reporter again asked "Baidu Hundred 8% financial plan" whether the violation of the issue, the SFC responded that Baidu has on the relevant media coverage of the content has been clarified, denied and eliminate the impact.

The SFC said that the Baidu and Huaxia funds to the SFC to submit the relevant business plan and explanatory material, are not involved in the promise of revenue and other irregularities, while the official online Baidu and Huaxia fund business cooperation model, does not involve the promise of income and other irregularities.

At the last press conference, the SFC made the same statement.

Earlier in the announcement of the Baidu financial plan, the media had to "8% yield" as a major area of concern coverage.

But compared with the generosity of Internet institutions in financial innovation, fund companies still need to pay attention to procedures and details in innovation. Earlier, a 24-hour confirmation of purchase and redemption by the IMF's Money fund "cash treasure" was halted by the SFC.

The General fund redemption confirmation time is 3 o'clock in the afternoon, after which the purchase redemption will be confirmed on the next trading day. September 23, the exchange of cash PO Add the announcement of this rule into a full day 24 hours confirmed.

According to the CSRC, the Fund collection application materials did not reveal the above-mentioned matters during the reporting process of the product.

The new product declaration has also been affected by the suspension of the fund's business. The SFC said that the next three months to add the fund reported products are in accordance with the "ordinary procedures" audit.

Prior to the maturity of the fund products, fund companies through the "Summary Procedure" Audit, 20 working days can be audited, and ordinary procedures generally for immature innovative products, the audit period can be long to several months.

Related news

SYWG macro Source Merge material has not yet been submitted

Beijing News (reporter min) October 30, the source of the merger of Hongyuan Securities and Wanguo no new progress, yesterday afternoon, the SFC responded that the SFC has urged Hongyuan Securities to perform information disclosure obligations, but for the merger did not receive the relevant application materials.

Prior to the market rumors of Hongyuan Securities and Wanguo will be merged, two of the controlling shareholders of the securities companies are CIC. After the news spread, Hongyuan Securities began to suspend trading in the afternoon of October 30.

If this single merger, this will be the domestic involved in the second single merger of listed brokerages, but also the industry's largest mergers and acquisitions. Previously, the industry predicted that two brokerages may exchange shares to join the merger, but the current macro-source securities have not disclosed whether the merger and how to merge information.

China Securities Association's data show that, in terms of revenue, SYWG and Hongyuan revenue in the last year was 4.01 billion yuan and 3.06 billion yuan, respectively, the 10th and 11 brokerage income, the combined income will rise to 2nd, after Citic Securities.

Listed commercial banks can be issued corporate bonds

Beijing News (reporter min) for listed commercial banks, the channel of supplementary capital added to the company debt. Yesterday, the SFC and the CBRC jointly issued "Guidelines on the replenishment of corporate bonds issued by commercial banks", the qualified commercial banks can apply for the issuance of corporate bonds supplementary capital.

Prior to the listed commercial banks supplementary capital in addition to the issue, allotment, convertible bonds and other refinancing, as well as the issuance of financial debt and other means, there is no other arrangements.

The SFC has said this year that it supports listed companies to issue preferred shares, which were once considered a suitable channel for banks to replenish capital. Now the channel adds a new breed of corporate debt.

It is noteworthy that the commercial banks that can issue corporate bonds include not only the domestic commercial banks listed in Shanghai and Shenzhen, but also the commercial banks that apply for the initial public offering of shares in the Territory, which means that the 13 commercial banks that currently queue up IPOs in a A-share can also be eligible for issuing corporate debt.

Corporate debt is a bond financing method under the supervision of the SFC, and its issuing subject can only be limited liability companies and stock companies, but the actual listed company is the main group of corporate bond issue.