Chapter I General Provisions
Article 1 In order to strengthen the management of personal financial services of commercial banks and promote the healthy and orderly development of personal financial services, these Measures are formulated in accordance with the Banking Supervision Law of the People's Republic of China, the People's Republic of China (PRC) Commercial Bank Law and other relevant laws and regulations.
Article 2 Personal financial services as mentioned in these Measures refer to professional service activities such as financial analysis, financial planning, investment consultancy and asset management provided by commercial banks for individual customers.
Article 3 Commercial banks shall abide by laws, administrative regulations and relevant state policies and regulations when conducting personal financial services.
Commercial banks are not allowed to take advantage of personal wealth management business or violate the national interest rate management policy to solicit deposits at high interest rates in disguise.
Article 4 A commercial bank shall conduct personal financial services prudently and dutifully in accordance with the principle of satisfying customers' interests and risk tolerance.
Article 5 Commercial banks shall establish corresponding risk management systems and internal control systems and strictly implement the authorization management system when conducting personal financial services.
Article 6 China Banking Regulatory Commission (hereinafter referred to as CBRC) shall supervise and manage the personal finance business activities of commercial banks in accordance with these Measures and relevant laws and regulations.
Chapter II Classification and Definition
Article 7 Personal financial services of commercial banks can be divided into financial consulting services and comprehensive financial services according to different management modes.
Article 8 Financial advisory services refer to professional services such as financial analysis and planning, investment advice and personal investment product promotion provided by commercial banks to customers.
General business consulting activities such as product introduction, publicity and promotion carried out by commercial banks for selling savings deposit products and credit products do not belong to the financial consulting services mentioned in the preceding paragraph.
In financial advisory services, customers manage and use funds according to the financial advisory services provided by commercial banks, and bear the resulting benefits and risks.
Article 9 Comprehensive financial services refer to the business activities of commercial banks that provide financial advisory services to customers, accept the entrustment and authorization of customers, and conduct investment and asset management according to the investment plans and methods agreed with customers in advance.
In the comprehensive financial services activities, the customer authorizes the bank to conduct investment and asset management on its behalf in the investment direction and manner agreed in the contract, and the investment income and risks are borne by the customer or the customer and the bank in the agreed manner.
Article 10 A commercial bank may sell financial plans to specific target customers in comprehensive financial services.
Financial plan refers to the capital investment and management plan developed, designed and sold by commercial banks for specific target customers based on the analysis and research of potential target customers.
Article 11 Financial planning can be divided into guaranteed income financial planning and non-guaranteed income financial planning according to different ways for customers to obtain income.
Article 12 A guaranteed income financial plan refers to a financial plan in which a commercial bank promises to pay a fixed income to its customers in accordance with the agreed conditions, and the bank bears the investment risks arising therefrom, or the bank promises to pay the minimum income to its customers in accordance with the agreed conditions and bear the related risks, and other investment income is distributed by the bank and the customers in accordance with the contract, so as to share the related investment risks together.
Article 13 Non-guaranteed income financing plans are divided into guaranteed floating income financing plans and non-guaranteed floating income financing plans.
Article 14 A financial plan with capital preservation and floating income refers to a financial plan in which a commercial bank guarantees to pay the principal to the customer according to the agreed conditions, and the investment risks other than the principal are borne by the customer, and the actual income of the customer is determined according to the actual investment income.
Article 15 Non-principal-guaranteed floating income financial management plan refers to a financial management plan in which a commercial bank pays income to customers according to agreed conditions and actual investment income, and does not guarantee the safety of customers' principal.
Chapter III Management of Personal Finance Business
Article 16 Commercial banks should establish and improve the management system of personal financial services, clarify the management departments of personal financial services, and formulate management rules and regulations of financial advisory services and comprehensive financial services respectively according to the different characteristics of financial advisory services and comprehensive financial services, and clarify the responsibilities of relevant departments and personnel.
Article 17 Commercial banks should distinguish financial advisory services from general business advisory activities, and formulate working rules and norms for personal financial personnel in accordance with the principle of preventing misleading customers or improper sales.
Personal financial personnel of commercial banks should include those who provide financial analysis, planning or investment advice to customers, those who sell financial plans or investment products, and other professionals who are closely related to the sales management activities of personal financial services.
Article 18 A commercial bank shall establish and improve the internal control and regular inspection system of comprehensive financial services to ensure that the comprehensive financial services comply with relevant laws and regulations and agreements between banks and customers.
Article 19 Commercial banks should comprehensively regulate the research and development, pricing, risk management, sales, fund management and utilization, accounting treatment, income distribution and other aspects of financial planning, establish and improve relevant rules and regulations and internal audit procedures, and strictly supervise and manage internal review and audit.
Twentieth commercial banks should be equipped with personal financial management personnel, and ensure that personal financial management personnel training time is not less than 20 hours a year.
Commercial banks should record the training methods, training time and assessment results of financial management personnel in detail, and suspend their personal financial management activities if they fail to meet the training requirements.
Article 21 A commercial bank shall sign a contract with a customer to clarify the rights and obligations of both parties, and sign the necessary power of attorney for the customer and other legal documents necessary for investing on behalf of the customer according to business needs.
Article 22 If the financial plan sold by a commercial bank includes structured deposit products, the structured deposit products shall separate the basic assets from the derivative products, and the basic assets shall be managed according to the savings deposit business, while the derivative products shall be managed according to the financial derivative products business.
Article 23 A commercial bank shall not sell general savings deposit products as a financial plan alone, nor shall it force the financial plan to be sold together with its savings deposits.
Article 24 The guaranteed income in the guaranteed income financing plan or related products that is higher than the interest rate of savings deposits in the same period is the guaranteed income with additional conditions for customers. Commercial banks shall not unconditionally promise customers a guaranteed rate of return higher than the interest rate of savings deposits in the same period.
Commercial banks shall not promise or promise in disguised form any available income except guaranteed income.
Article 25 The additional conditions for a commercial bank to promise its customers guaranteed income may be the right to adjust the term of financial planning, the right to convert currency, the final payment currency and the right to choose instruments. The investment risks arising from the use of additional conditions of the guaranteed income financial plan by commercial banks should be borne by customers.
Article 26 A commercial bank shall set an appropriate time limit and initial sales amount according to the financial plan or the risk status of related products.
Article 27 The financing funds raised by the sales financing plan of a commercial bank shall be managed and used in accordance with the financing contract.
In addition to the normal accounting of the funds raised in the financial planning, commercial banks should also make detailed records of each financial planning.
Article 28 During the existence of a financial plan, a commercial bank shall provide its customers with a list of all relevant assets held by it, which shall specify the changes in assets, income and expenditure and the valuation of assets at the end of the period. Bills should be provided at least twice and at least once a month. Unless otherwise agreed between a commercial bank and its customers.
Article 29 A commercial bank shall prepare the financial statements, market performance and relevant materials of various investment instruments in the financial planning on a quarterly basis, and relevant customers have the right to inquire or ask the commercial bank to provide the above materials.
Article 30 A commercial bank shall, when the financial plan is terminated or the investment income of the financial plan is distributed, provide customers with a detailed report on the investment and income of the financial plan.
Article 31 Commercial banks should adopt appropriate accounting and tax treatment methods according to the nature of personal wealth management business and the provisions of relevant national laws and regulations.
If there are no clear provisions in the current laws and regulations, commercial banks should actively communicate with relevant departments and formulate special description documents on the accounting and tax treatment methods adopted for inspection by relevant departments.
Thirty-second commercial banks to carry out personal financial services, according to the relevant provisions of the customer to charge appropriate fees, fees and charges should be clearly defined in the contract signed with customers.
When commercial banks need to uniformly adjust the charging standards and charging methods signed with customers according to the relevant national policies, they should inform customers of the relevant situation in a timely manner; Unless otherwise agreed in relevant agreements, commercial banks should obtain the consent of customers when adjusting the signed charging standards and charging methods according to the needs of business development and investment management.
Article 33 A commercial bank engaged in personal financial business involving financial derivatives trading and foreign exchange control laws and regulations shall obtain corresponding business qualifications in accordance with relevant regulations.
Article 34 If a commercial bank conducts personal financial business and finds that its customers are suspected of money laundering, malicious evasion of tax administration and other illegal acts, it shall promptly report to the relevant departments in accordance with relevant state regulations.
Chapter IV Risk Management of Personal Financial Services
Article 35 A commercial bank shall establish a corresponding risk management system when conducting personal financial services, and incorporate the risk management of personal financial services into the risk management system of commercial banks.
The risk management system of personal finance business of commercial banks should cover all kinds of risks faced by personal finance business, and formulate effective control measures for related risks.
Article 36 Commercial banks should conduct strict compliance review in personal finance business, accurately define various legal relationships involved in personal finance business, clarify possible legal and policy problems, study and formulate corresponding solutions, and effectively prevent legal risks.
Article 37 When using financial advisory services to promote investment products to customers, commercial banks should understand customers' risk preferences, risk awareness and tolerance, evaluate their financial situation, provide suitable investment products for customers to choose independently, explain the operating market and mode of relevant investment tools to customers, and reveal relevant risks.
Commercial banks should properly keep records of customer evaluation and consulting services, and properly keep customer information and other documents.
Article 38 A commercial bank shall formulate a financial plan or product R&D design workflow, formulate internal examination and approval procedures, clarify the main risks and risk management measures to be taken, and submit them to the regulatory authorities in accordance with relevant requirements.
Article 39 A commercial bank shall independently measure the capital cost and income of a wealth management plan, and adopt scientific and reasonable measurement methods to predict the return rate of a wealth management portfolio.
Commercial banks may not sell financial plans that cannot be independently accounted for or have zero or negative returns.
Fortieth commercial banks' financial planning publicity and introduction materials should include product risk disclosure, and be expressed in eye-catching and popular words; For the non-guaranteed income financing plan, before signing the contract with the customer, the calculation data, calculation method and main basis of the expected rate of return of the financing plan should be provided.
Article 41 A commercial bank shall set market risk monitoring indicators for its financial management plan and establish an effective market risk identification, measurement, monitoring and control system.
When a commercial bank regards the relevant market monitoring indicators as the termination conditions or reference conditions of the financial planning contract, it shall clearly state the definition and calculation method of the relevant indicators in the financial planning contract.
Article 42 Commercial banks should fully stress the reform and adjustment of major financial policies, such as interest rate and exchange rate, evaluate the possible impact on the bank's business activities, and formulate corresponding risk disposal and emergency plans.
Commercial banks are not allowed to sell financial plans whose stress tests show that the potential losses exceed the early warning standards of commercial banks.
Article 43 A commercial bank shall formulate an emergency plan for personal financial services and incorporate it into the overall business emergency plan system of the commercial bank to ensure the continuity and effectiveness of personal financial services.
Article 44 Where personal wealth management business involves financial derivatives trading or foreign exchange management regulations, commercial banks shall establish corresponding management systems and risk control systems in accordance with relevant regulations.
Chapter V Supervision and Management of Personal Finance Business
Forty-fifth commercial banks to carry out personal financial services to implement the examination and approval system and reporting system.
Article 46 A commercial bank shall apply to the China Banking Regulatory Commission for approval to carry out the following personal financial services:
(1) guaranteed income financing plan;
(2) A new type of investment product designed for personal finance business to ensure income;
(3) Other personal financial services that need to be approved by the China Banking Regulatory Commission.
Article 47 Before applying for personal financial services that need approval, commercial banks should hold talks with China Banking Regulatory Commission or its dispatched offices on relevant business plans, analyze and explain the allocation of relevant business resources, understanding of major risks and corresponding management measures, and modify relevant business plans according to the opinions of China Banking Regulatory Commission or its dispatched offices.
Article 48 A commercial bank shall meet the following conditions to carry out personal financial services subject to approval:
(1) Having corresponding risk management system and internal control system;
(2) Having senior managers and employees who have the experience and knowledge to carry out relevant business work;
(3) Having an effective market risk identification, measurement, monitoring and control system.
(4) It has a good reputation, and there has been no major incident that harms the interests of customers in the past two years;
(5) Other prudential conditions stipulated by the China Banking Regulatory Commission.
Article 49 A commercial bank shall submit the following materials (in triplicate) to the China Banking Regulatory Commission when applying for personal financial services that need to be approved:
(1) An application signed by the person in charge of the commercial bank;
(2) Introduction of the business to be applied for, including the nature of the business, target customer base and relevant analysis and forecast;
(3) Business implementation plan, including the management system, main risks and management measures to be taken for the business to be applied;
(four) the audit opinions of the relevant departments within the commercial bank.
(5) Other documents and materials required by China Banking Regulatory Commission.
Article 50 Chinese-funded commercial banks (excluding city commercial banks and rural commercial banks) shall apply to China Banking Regulatory Commission for approval by their legal persons.
Wholly foreign-funded banks, joint venture banks and branches of foreign banks that need to be approved to start personal wealth management business shall be reported to the China Banking Regulatory Commission for approval in accordance with the Provisions on the Procedures for Examination and Approval of Foreign-funded Banking Business.
City commercial banks and rural commercial banks need to be approved to start personal financial services, and their legal persons shall report to China Banking Regulatory Commission or its dispatched offices for approval in accordance with relevant procedures.
Fifty-first commercial banks to carry out other personal financial business activities, do not need approval, but should report to the CBRC or its dispatched offices in a timely manner in accordance with relevant regulations.
Article 52 A commercial bank shall report to the China Banking Regulatory Commission or its dispatched office when selling a financial plan without approval. A commercial bank shall submit the following information to the China Banking Regulatory Commission or its dispatched office in accordance with relevant business reporting procedures at the latest 10 days before the sales financing plan:
(a) the customer groups to be sold in the financial plan and the relevant analysis;
(2) The scale of the financial plan to be sold, the calculation of capital cost and income, and relevant calculation instructions;
(3) Overseas introduction materials and publicity materials of the financial plan to be sold;
(4) Other materials required by China Banking Regulatory Commission.
Article 53 branches of Chinese-funded commercial banks may carry out corresponding personal financial services as authorized by the head office. Branches of foreign-funded banks may carry out corresponding personal financial services according to the authorization of their head offices or regional headquarters.
Before a branch of a commercial bank conducts relevant personal financial services, it shall report to the local CBRC agency with the authorization document of its head office (regional headquarters, etc.). ) in accordance with the relevant regulations.
Article 54 Personal wealth management personnel of commercial banks shall meet the following qualifications:
(a) have a full understanding and understanding of the relevant laws and regulations, administrative rules and regulatory requirements of personal financial business activities;
(2) Abide by the professional ethics standards or codes for personal financial managers formulated by the regulatory authorities and commercial banks;
(three) to master the characteristics of the products introduced or to provide advice to customers, and to have a certain understanding and understanding of the relevant product market;
(4) Having corresponding academic qualifications and work experience;
(5) Having the industrial qualifications required by the relevant regulatory authorities;
(6) Other conditions as required by China Banking Regulatory Commission.
Article 55 China Banking Regulatory Commission (hereinafter referred to as CBRC) will organize and guide the professional training and assessment of personal financial business personnel according to the needs of personal financial business development and supervision.
Relevant requirements and assessment methods shall be formulated separately by China Banking Regulatory Commission.
Article 56 The China Banking Regulatory Commission and its dispatched offices may organize relevant investigation and inspection activities according to the actual needs of the development and supervision of personal financial services and the corresponding regulatory authority.
For the following matters, the China Banking Regulatory Commission and its dispatched offices may conduct investigations in various ways:
(a) the professional ability and professional ethics of the personnel engaged in product consulting, financial planning or investment consulting services of commercial banks, and the protection of the above services to investors;
(2) The commercial bank accepts the entrustment and authorization of customers and conducts asset management business activities according to the investment plan and method agreed with customers in advance. The authorization of customers is sufficient and compliant, the operation process is standardized, and the responsibilities of customer asset custodians and account operators are separated;
(three) the protection of investors in the process of commercial banks' sales and management of financial planning, and the risk control of related products.
Article 57 A commercial bank shall make statistical analysis on personal financial services on a quarterly basis, and submit relevant statistical analysis reports (in triplicate) to the China Banking Regulatory Commission within the first month of the next quarter.
Article 58 The quarterly statistical analysis report of personal finance business of commercial banks shall at least include the following contents:
(1) Brief introduction of all personal financial services and relevant statistical data carried out in this period;
(2) Introduction of the financial plan launched in this period, relevant contracts of the financial plan, internal legal review opinions, management mode (including accounting and tax treatment methods, etc.), sales forecast and current sales and investment situation;
(3) Relevant risk monitoring;
(4) Income distribution and termination of current financial plan;
(5) Legal proceedings involved;
(6) Other major matters.
Article 59 A commercial bank shall prepare an annual personal financial report at the end of each fiscal year. The annual report on personal finance business shall comprehensively reflect the development of personal finance business, sales, investment, income distribution and comprehensive income of personal finance business this year, and attach the annual report.
The annual report and related statements (in triplicate) shall be submitted to the CBRC before the end of February of the following year.
Article 60 The statistical indicators, statistical methods, preparation of relevant statements and disclosure of relevant information and statements of personal financial services of commercial banks shall be formulated separately by the China Banking Regulatory Commission.
Chapter VI Legal Liability
Article 61 If a commercial bank conducts personal financial services under any of the following circumstances, the banking regulatory institution may deal with the directors, senior managers and other directly responsible personnel in accordance with Article 47 of the Banking Supervision Law of the People's Republic of China and the Measures for Punishment of Financial Violations. If the case constitutes a crime, criminal responsibility shall be investigated according to law:
(a) to carry out personal financial services in violation of regulations, causing great economic losses to banks or customers;
(2) The relevant risk management system and management system have not been established, or although the relevant system has been established, the risk assessment, monitoring and control measures have not been actually implemented, causing heavy losses to the bank;
(3) divulging or improperly using the customer's personal data and transaction information records, resulting in serious consequences;
(4) using personal financial services to engage in illegal and criminal activities such as money laundering and tax evasion;
(five) misappropriation of separately managed customer assets.
Article 62 If a commercial bank conducts personal financial services under any of the following circumstances, it shall be punished by the banking supervision and administration institution in accordance with the Banking Supervision and Administration Law of the People's Republic of China:
(1) Selling unapproved financial plans or products in violation of regulations;
(2) Selling general savings deposit products as financial management plans and violating the national interest rate management policies, and absorbing deposits at high interest rates in disguise;
(3) Providing false cost-benefit analysis reports or risk-benefit forecast data;
(4) Failing to disclose risks and information as required.
(5) Failing to conduct customer evaluation as required.
Sixty-third commercial banks to carry out other illegal acts of personal finance business, by the banking supervision and management institutions in accordance with the corresponding laws and regulations to be punished.
Article 64 If a commercial bank conducts personal financial services in violation of prudent business rules, or conducts unfair competition by using personal financial services, the banking regulatory institution shall order it to make corrections within a time limit in accordance with relevant laws and regulations; If no correction is made within the time limit, the banking regulatory institution may take the following measures according to relevant laws and regulations:
(a) to suspend the sale of new financial management plans or products by commercial banks;
(2) Suggest that the commercial bank adjust the person in charge of the personal finance department;
(3) It is suggested that commercial banks adjust the heads of relevant risk management departments and internal audit departments.
Article 65 A commercial bank shall bear the responsibilities in accordance with the relevant laws or contractual agreements in handling personal financial services under any of the following circumstances, which causes economic losses to its customers:
(1) The commercial bank fails to keep relevant customer evaluation records and relevant materials, and cannot prove that the financial plan or product sales are in line with the principle of customer interests;
(2) The commercial bank fails to operate according to the customer's instructions, or fails to save relevant supporting documents;
(three) business personnel who do not have the qualification of financial personnel to provide financial consulting services or sell financial plans or products to customers.
Chapter VII Supplementary Provisions
Article 66 "Day" in these Measures refers to working days, and "month" refers to "month" in the calendar.
Sixty-seventh rural cooperative banks, urban credit cooperatives, rural credit cooperatives and other banking financial institutions to carry out personal financial services, with reference to these measures.
Article 68 The China Banking Regulatory Commission shall be responsible for the interpretation of these Measures.
Article 69 These Measures shall be implemented as of June, 2005 165438+ 10/day.