China Central Broadcasting Network Beijing, February 19 (Reporter Tang Jing) New regulations to regulate the appointment and practice of directors, supervisors, senior managers and employees of securities and fund management institutions ushered in new regulations. On the 18th, the China Securities Regulatory Commission issued the “Measures for the Supervision and Administration of Directors, Supervisors, Senior Managers and Practitioners of Securities Fund Operating Institutions” (hereinfollowing referred to as the “Administrative Measures”), which will come into force on April 1. What are the key points in the management measures worthy of attention?
The main contents of the “Administrative Measures” include: 1. For directors, supervisors and senior executives to be adjusted from pre-approval to post-filing management, the CSRC dispatched agency shall conduct ex-post verification of the qualifications of the recruits. If the conditions are not met, the operating agency shall replace the relevant personnel. 2. Refine the basic qualifications of directors, supervisors, senior executives and employees from the aspects of personal character, job experience, business management ability, and professional ability. 3. Participation in the proficiency test is no longer a prerequisite for qualifications, and personnel with certain work experience are allowed to be exempted from the test. 4. In order to introduce professionals in the fields of financial technology and other fields, relax the work experience to the experience related to the proposed position, such as information technology, and uniformly stipulate the relevant work experience period of 3 years, and no longer set higher requirements according to the work background. 5. Cancel the educational requirements and recommender system for directors, supervisors and senior management of operating institutions. 6. The main responsibility of personnel management of operating agencies is established from three aspects: job inspection, duty performance supervision, and assessment accountability.
Zhao Xijun, co-director of the China Capital Market Research Institute of Renmin University of China, said that the “Administrative Measures” released this time are more standardized, systematic and detailed. “To be more standardized means to make the management requirements of the securities and fund industry clearer and more complete. To be more systematic means to make the management requirements from the initial selection and recruitment to the final appointment, to the handling of some problems, and form a very systematic management method. To be more detailed, it is to make more detailed and detailed regulations on the relevant qualifications for employment, the negative list, and some prohibited behaviors.”
In the past, securities and fund management institutions determined the appointment of directors, supervisors and senior executives, usually by the nomination committee under the board of directors to select and identify qualified candidates. Before submitting them to the board of directors and the general meeting of shareholders, they must be approved by the relevant management departments. The “Administrative Measures” issued this time clearly states that directors, supervisors and senior executives are required to be upright, honest and of good character; they are familiar with the laws and regulations of securities funds and the regulations of the CSRC; they must have 3 More than 10 years of work experience in securities, funds, finance, law, accounting, information technology, etc. related to the position to be held; have management experience and management capabilities suitable for the position to be held.
Dong Dengxin, director of the Institute of Finance and Securities at Wuhan University of Science and Technology, pointed out that in the future, the control of these requirements will be transferred to the company level. While the company’s autonomy will be improved, its responsibilities will be clearer, which is a manifestation of inclusive supervision. Dong Dengxin said: “Give (securities) fund companies more autonomy. Of course, the company behind the autonomy is responsible, self-disciplined, and self-disciplined. This self-discipline mechanism will gradually be built, which is also in line with our market-oriented reform. guide.”
In addition, the “Administrative Measures” stipulate that securities and fund management institutions shall properly preserve the company’s personnel management system, as well as annual assessment, practice training, auditing and other information, and the preservation period shall not be less than 20 years. Dong Dengxin said that in the future, it is necessary to form a joint force from the inside and outside to regulate the professional conduct of employees of securities and fund management institutions. “To a large extent, securities and fund management institutions need to improve risk management and risk control through the improvement of internal systems. In this regard, it may be necessary to work hard from the inside. At the same time, supervision and supervision must be carried out from the outside, so as to improve the securities and fund industry as a whole. management level.” Dong Dengxin said.Return to Sohu, see more
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