Tentative Provisions for the Engagement in the Public Securities Investment Fund Management Business by Asset Management Firms
资产管理机构开展公募证券投资基金管理业务暂行规定
The Provisions regulate the engagement in public securities fund management by securities companies, insurance companies, private equity firms and venture capital firms.
(Promulgated by the China Securities Regulatory Commission on February 18 2013 and effective as of June 1 2013.)
(中国证券监督管理委员会於二零一三年二月十八日发布，自二零一三年六月一日起施行。)
CSRC Announcement [2013] No.10
证监会公告 [2013] 10号
Article 1: These Provisions have been formulated pursuant to laws and regulations such as the Securities Law, the Insurance Law and the Securities Investment Fund Law in order to regulate the engagement in the management of public securities investment funds (Funds) by qualified asset management firms, safeguard the lawful rights and interests of Fund unit holders and promote the sustained healthy development of the fund industry and capital markets.
第一条 为了规范符合条件的资产管理机构开展公开募集证券投资基金（以下简称基金）管理业务，维护基金份额持有人合法权益，促进基金行业和资本市场持续健康发展，根据《证券法》、《保险法》、《证券投资基金法》等法律法规，制定本规定。
Article 2: For the purposes of these Provisions, the term “asset management firm” means a securities company, insurance asset management company or an asset management firm specialising in the management of privately offered securities investment funds (a Private Fund Management Firm) lawfully established in China.
第二条 本规定所称资产管理机构是指在中国境内依法设立的证券公司、保险资产管理公司以及专门从事非公开募集证券投资基金管理业务的资产管理机构（以下简称私募证券基金管理机构）。
Article 3: When an asset management firm applies to the China Securities Regulatory Commission (the CSRC) to engage in the Fund management business, the CSRC shall approve its business qualifications in accordance with the law.
第三条 资产管理机构向中国证券监督管理委员会（以下简称中国证监会）申请开展基金管理业务，中国证监会依法核准其业务资格。
Article 4: The CSRC and its agencies shall regulate the engagement in Fund management business activities by asset management firms in accordance with the law.
第四条 中国证监会及其派出机构依法对资产管理机构从事基金管理业务活动进行监督管理。
The Asset Management Association of China (the AMAC) shall implement self-regulation over the engagement in Fund management business activities by asset management firms.
中国证券投资基金业协会（以下简称基金业协会）对资产管理机构从事基金管理业务活动实行自律管理。
Article 5: An asset management firm applying to engage in the Fund management business shall satisfy the following conditions:
第五条 申请开展基金管理业务的资产管理机构，应当符合下列条件：
(1) having at least three years of securities asset management experience and having a good performance in the management of securities-type products during the most recent three years;
（一）具有3年以上证券资产管理经验，最近3年管理的证券类产品业绩良好；
(2) having sound corporate governance and internal controls, and effective risk management;
（二）公司治理完善，内部控制健全，风险管理有效；
(3) having a good business position and stable finances during the most recent three years;
（三）最近3年经营状况良好，财务稳健；
(4) acting in good faith and being compliant, not having a record of a major violation of laws or regulations with the regulators during the most recent three years, and not currently being investigated by a regulator for a violation of laws or regulations or currently undergoing rectification;
（四）诚信合规，最近3年在监管部门无重大违法违规记录，没有因违法违规行为正在被监管部门调查，或者正处于整改期间；
(5) being a member of the AMAC; and
（五）为基金业协会会员；
(6) satisfying other conditions as specified by the CSRC.
（六）中国证监会规定的其他条件。
Article 6: A securities company applying to engage in the Fund management business shall, in addition to complying with Article 5, satisfy the following conditions:
第六条 证券公司申请开展基金管理业务，除符合第五条规定外，还应当符合下列条件：
(1) having total assets under its management of not less than Rmb20 billion or a pooled asset management business of not less than Rmb2 billion; and
（一）资产管理总规模不低于200亿元或者集合资产管理业务规模不低于20亿元；
(2) its risk control indicators during the last 12 months continuously being in compliance with the prescribed standards.
（二）最近12个月各项风险控制指标持续符合规定标准。
Article 7: An insurance asset management company applying to engage in the Fund management business shall, in addition to complying with Article 5, satisfy the following conditions:
第七条 保险资产管理公司申请开展基金管理业务，除符合第五条规定外，还应当符合下列条件：
(1) having assets under its management of not less than Rmb20 billion; and
（一）管理资产规模不低于200亿元；
(2) having net assets of not less than Rmb500 million as at the end of the last quarter.
（二）最近1个季度末净资产不低于5亿元。
Article 8: A Private Fund Management Firm applying to engage in the Fund management business shall, in addition to complying with Article 5, satisfy the following conditions:
第八条 私募证券基金管理机构申请开展基金管理业务，除符合第五条规定外，还应当符合下列条件：
(1) having paid-in capital or actually paid-in capital contributions of not less than Rmb10 million; and
（一）实缴资本或者实际缴付出资不低于1000万元；
(2) having securities assets under its management averaging not less than Rmb2 billion per annum during the most recent three years.
（二）最近3年证券资产管理规模年均不低于20亿元。
Article 9: An asset management firm applying to engage in the Fund management business shall submit the application materials to the CSRC, and the CSRC shall review the asset management firm's application in accordance with the law. The CSRC shall issue a Fund Management Qualification Certificate to the asset management firm if it secures Fund management business qualifications.
第九条 资产管理机构申请开展基金管理业务，应当向中国证监会提交申请材料，中国证监会依法对资产管理机构的申请进行审核。取得基金管理业务资格的，向其核发《基金管理资格证书》。
Article 10: An asset management firm that engages in the Fund management business shall comply with laws, administrative regulations and CSRC provisions, act in good faith and with due diligence, honesty and dedication, and manage and apply Fund property in the interests of the Fund unit holders.
第十条 资产管理机构开展基金管理业务，应当遵守法律、行政法规、中国证监会的规定，恪守诚信，审慎勤勉，忠实尽责，为基金份额持有人的利益管理和运用基金财产。
Article 11: An asset management firm that engages in the Fund management business shall establish a dedicated Fund business department, and an independent Fund investment decision-making procedure and relevant firewall system so as to effectively guard against the diversion of benefits and conflicts of interest.
第十一条 资产管理机构开展基金管理业务，应当设立专门的基金业务部门，建立独立的基金投资决策流程及相关防火墙制度，有效防范利益输送和利益冲突。
An asset management firm that engages in the Fund management business shall have an information system and security facilities that satisfy requirements or have a sound information system and business outsourcing plan. An asset management firm may provide support such as research, risk control, inspection and auditing, human resources management, information technology and operation services for the engagement in the Fund management business.
资产管理机构开展基金管理业务，应当有符合要求的信息系统和安全防范设施或者有完善的信息系统、业务外包方案。资产管理机构可以为开展基金管理业务提供研究、风险控制、监察稽核、人力资源管理、信息技术和运营服务等方面的支持。
Article 12: An asset management firm shall establish management systems for fair trading and affiliated transactions, improve its mechanism for the monitoring of fair trading and irregular transactions, treat different assets under its management in an equal manner and guard against insider trading.
第十二条 资产管理机构应当建立公平交易和关联交易管理制度，完善公平交易和异常交易监控机制，公平对待管理的不同资产，防范内幕交易。
Article 13: An asset management firm that engages in the Fund management business shall have senior management personnel who satisfy the provisions of laws and regulations, and have not fewer than 10 professionals who engage in investment and research and have Fund business qualifications.
第十三条 资产管理机构开展基金管理业务，应当有符合法律法规规定的高级管理人员，从事投资、研究业务并取得基金从业资格的专业人员不少于10人。
Senior management personnel and other Fund business employees shall comply with laws and regulations, abide by professional ethics and codes of conduct, perform their duties of good faith and due diligence and may not engage in activities that harm the interests of Fund unit holders.
高级管理人员及其他从业人员应当遵守法律法规，恪守职业道德和行为规范，履行诚实守信、谨慎勤勉的义务，不得从事损害基金份额持有人利益的活动。
Article 14: The CSRC shall, in accordance with laws and regulations, conduct offsite and onsite inspections of the operation of the Fund management business by asset management firms.
第十四条 中国证监会依照法律法规对资产管理机构开展基金管理业务情况进行非现场检查和现场检查。
Article 15: If an asset management firm, in conducting its Fund management business, violates relevant laws, regulations or CSRC provisions, the CSRC shall take administrative regulatory measures against it and against its manager directly in charge and other directly responsible persons in accordance with the law. If administrative penalties are required in accordance with the law, such administrative penalties shall be imposed in accordance with relevant provisions. If a criminal offence is suspected, the case shall be transferred in accordance with the law to the judicial authorities to pursue criminal liability.
第十五条 资产管理机构开展基金管理业务违反相关法律法规以及中国证监会规定的，中国证监会依法对资产管理机构及其直接负责的主管人员和其他直接责任人员采取行政监管措施。依法应予行政处罚的，依照有关规定进行行政处罚；涉嫌犯罪的，依法移送司法机关，追究刑事责任。
Article 16: If a securities company engages in the Fund management business through an asset management subsidiary controlled by it, matters shall be handled with reference hereto.
第十六条 证券公司通过其控股的资产管理子公司开展基金管理业务的，比照本规定执行。
If an equity investment management firm, venture investment management firm or other such asset management firm satisfying the conditions set forth in Articles 5 and 8 hereof applies to engage in the Fund management business, matters shall be handled with reference hereto.
股权投资管理机构、创业投资管理机构等其他资产管理机构符合本规定第五条、第八条规定条件，申请开展基金管理业务的，比照本规定执行。
Article 17: Where these Provisions are silent in respect of the engagement in the Fund management business by asset management firms, the Securities Investment Fund Law and relevant laws, regulations and CSRC provisions shall apply.
第十七条 资产管理机构开展基金管理业务，本规定没有规定的，适用《证券投资基金法》及相关法律法规和中国证监会的规定。
Article 18: These Provisions shall be effective as of June 1 2013.
第十八条 本规定自2013年6月1日起施行。
Attachment
附件
LIST OF APPLICATION MATERIALS FOR AN ASSET MANAGEMENT FIRM APPLYING TO ENGAGE IN THE FUND MANAGEMENT BUSINESS
资产管理机构申请基金管理业务申请材料清单
1. An undertaking as to the truthfulness, accuracy, completeness and compliance of the submitted application materials;
一、对提交申请材料真实、准确、完整、合规的承诺函；
2. A written application including at least information such as the basic particulars of the asset management firm, the objective of engaging in the Fund management business, an account of satisfaction of the conditions for the qualifications to engage in the Fund management business, etc.;
二、申请报告，内容至少包括资产管理机构的基本情况、开展基金管理业务的目的、符合开展基金管理业务资格条件的说明等；
3. A feasibility study including at least information such as the necessity and feasibility of the asset management firm engaging in the Fund management business, an account of the conduct of the existing asset management business, the advantages possessed, the Fund management business development plan, etc.;
三、可行性研究报告，内容至少包括资产管理机构开展基金管理业务的必要性和可行性，现有资产管理业务开展情况说明、具备的优势条件、基金管理业务发展规划等；
4. The resolution or decision consenting to engagement in the Fund management business made through the asset management firm's own decision-making procedure;
四、资产管理机构按照自身决策程序，同意开展基金管理业务的决议或者决定；
5. The organisational structure for the asset management firm's engagement in the Fund management business, arrangements for the business separation mechanism and business sharing mechanism between the Fund management business to be launched and the asset management firm's existing asset management business, and the arrangements for the mechanism guarding against conflicts of interest;
五、资产管理机构开展基金管理业务的组织架构，开展基金管理业务与机构现有资产管理业务的业务隔离、业务共享机制安排、防范利益冲突的机制安排；
6. Details of the asset management firm's equity stakes in fund management companies, considerations on the issue of inter-affiliate competition between directly engaging in the Fund management business and the fund management companies in which it has an equity stake, business synergy and overall strategy development arrangements;
六、资产管理机构参股基金管理公司有关情况，直接开展基金管理业务与参股基金管理公司的同业竞争问题考虑、业务协同及总体战略发展安排；
7. Supporting documentation evidencing satisfaction of the conditions to engage in the Fund management business, including but not limited to: documents evidencing legal person qualifications and business qualifications, audited financial reports for the last three years, proof of the size of the assets under management issued by the custodian or other institution, etc.;
七、符合开展基金管理业务条件的证明材料，包括但不限于：法人资格及业务资格证明文件、最近3年经审计的财务报告、托管机构或者其他机构出具的资产管理规模证明等文件；
8. The application materials for the position of the principal persons in charge of the Fund management business and of the person in charge of compliance (to be provided with reference to the application materials for the qualifications for the positions of senior management personnel in the securities investment fund industry);
八、基金管理业务主要负责人及合规负责人的任职申请材料（参照证券投资基金行业高级管理人员任职资格申请材料提供）；
9. The principal management systems for the Fund management business, including at least the investment management system, risk control system, Fund accounting system, information disclosure system, inspection and auditing system, performance evaluation and assessment system, contingency handling system, etc. as well as the information system, business outsourcing and other such agreements;
九、基金管理业务主要管理制度，至少包括投资管理制度、风险控制制度、基金会计制度、信息披露制度、监察稽核制度、业绩评估考核制度、紧急情况处理制度等以及信息系统、业务外包等协议；
10. A legal opinion issued by a law firm; and
十、律师事务所出具的法律意见书；
11. Other documents as specified by the CSRC.
clp reference:3700/13.02.18prc reference:证监会公告 [2013] 10号promulgated:2013-02-18effective:2013-06-01十一、中国证监会规定的其他文件。
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