China Securities Network (Reporter Xu Zhao) "Administrative Measures for the Appropriateness of Securities and Futures Investors" (hereinafter referred to as "Measures") was officially implemented today. Tencent Li Caitong worked closely with relevant partners to upgrade and upgrade the platform's original investor suitability management system in accordance with the Measures, and launched the first day of the implementation of the Measures.
Since its inception, Tencent Wealth Management Platform has strictly implemented the criteria for five-level classification of investors and products, and comprehensively applied risk assessment and risk warnings to fully protect investors' right to know and choose to ensure that investors can pass the platform. Purchase products that are suitable for their risk tolerance.
As the core of the investor protection system, the investor suitability system is a general rule for mature overseas markets. Since 2007, China has implemented appropriate management in some markets, products and businesses, but the relevant systems are relatively fragmented and independent, lacking a “mother law†of an appropriate system. The "Measures" formally implemented this time is based on the existing system practice, and the improvement, integration and promotion of the capital market appropriateness management system has great historical significance for the long-term development of China's capital market.
Investor classification, product risk grading, and appropriateness matching are the three key links for investor appropriateness management. As the basic norm for the appropriate management of investors, the “Measures†made a unified arrangement for the basic classification of investors for the first time, clarified the bottom line requirements for product grading and appropriate matching, and systematically stipulated penalties for violation of appropriate obligations by operating agencies. .
In terms of investor classification, the “Measures†divide investors into ordinary investors and professional investors, and require the operating institutions to comprehensively consider the source of income, asset status, debt, investment knowledge and experience on the basis of understanding the nine types of information of investors. Factors such as risk appetite and integrity, determine the risk tolerance of ordinary investors, and classify and manage them. In this regard, Tencent Li Caitong designed a new version of the questionnaire in line with the "Measures", in addition to the mandatory requirements for new users, the inventory of users through curtain advertising, announcements, redemption path guidance and other ways to guide them to a new version Risk assessment.
In terms of product risk grading, the “Measures†require the operating organization to understand the information of the products sold or the services provided, and to classify the products sold or the services provided according to the risk characteristics and extent of the products. The Measures also clarify the factors that should be considered comprehensively when classifying risk levels and the need to carefully assess risk levels. In this regard, based on the five-level classification of existing product risk levels, Tencent Licai has optimized and improved the product risk assessment mechanism in accordance with the “Measures†and has re-evaluated the existing product risk levels with relevant institutions.
In terms of investor suitability matching, the “Measures†require the operating organization to make judgments on the types of investors suitable for selling products or providing services according to the different risk levels of products or services, and according to different classifications of investors, it is suitable for purchase. The product or the service received is judged. In short, it is necessary to establish a correspondence between different risk level products and different types of investors. In this regard, Tencent Wealth Management strictly follows the relevant provisions of the Measures, clarifying the product risk levels suitable for each type of investor, as well as the types of investors suitable for each risk level product, and displaying product information, risk warnings, etc. The system was optimized at the system level. In addition, according to the requirements of the Measures, after the new version of the system is launched, users with the lowest risk tolerance category will not be able to purchase products whose risk level is higher than their risk tolerance. Other types of customers can only purchase after special warning and secondary confirmation of the platform. Products that exceed their risk tolerance.
"We always insist on putting legal compliance in the first place, highly support and cooperate with the introduction of relevant regulations of the regulatory authorities, and synchronize the online system with the regulations at the first time." The relevant person in charge of Tencent Licai said that Tencent Licai has been online for three years, and the number of users And the amount of funds maintained to grow steadily. At present, the number of users has exceeded 100 million, and the amount of funds retained exceeds 150 billion.
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