China Securities Regulatory Commission, Measures for Administration of the Client Asset Management Business of Securities Companies (Revised)
中国证券监督管理委员会证券公司客户资产管理业务管理办法 (修订)
July 16, 2013 | BY
clpstaff &clp articles &Client asset management business of securities companies restricted to private funds only.
Promulgated: June 26 2013
Effective: as of date of promulgation
Main contents: With the PRC Securities Investment Fund Law (Revised) coming into effect on June 1, pooled asset management plans of more than 200 persons would be regarded as public funds. Thus, the China Securities Regulatory Commission (CSRC) has revised the Measures and Implementing Rules for the Pooled Asset Management Business of Securities Companies to remove the provisions on pooled asset management plans of more than 200 persons of securities companies to restrict the pooled asset management plans regulated by the Measures and Implementing Rules to just private funds.
The revision also changes the targets of pooled asset management plans from “specific clients” to “qualified investors”. Qualified investors include:
(1) individuals or families with aggregate assets of at least Rmb1 million; and
(2) companies, enterprises or other organisations with net assets of at least Rmb10 million.
Related legislation: Implementing Rules for the Pooled Asset Management Business of Securities Companies (Revised), Jun 26 2013, CLP 2013 No.4 p.46
clp reference:3700/13.06.26(1)promulgated:2013-06-26effective:2013-06-26This premium content is reserved for
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