In order to strengthen the management of personal finance business activities of commercial banks and promote the healthy and orderly development of personal finance business, these Measures are formulated in accordance with the Banking Supervision Law of the People's Republic of China, the Law of People's Republic of China (PRC) Commercial Bank and other relevant laws and regulations.

second

The term "personal financial services" as mentioned in these Measures refers to professional service activities such as financial analysis, financial planning, investment consultancy and asset management provided by commercial banks for individual customers.

essay

Commercial banks should abide by laws, administrative regulations and relevant state policies 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

Commercial banks should conduct personal financial services prudently and responsibly in accordance with the principle of satisfying customers' interests and risk tolerance.

Article 5

Commercial banks should establish corresponding risk management systems and internal control systems, and strictly implement the authorization management system.

Article 6

China Banking Regulatory Commission shall, in accordance with these Measures and relevant laws and regulations, supervise and manage the personal finance business activities of commercial banks. Article 7

Personal financial services of commercial banks are divided into financial advisory services and comprehensive financial services according to different management and operation 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 that commercial banks provide financial advisory services to customers, accept the entrustment and authorization of customers, and conduct investment and asset management according to the investment plan and method 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

Commercial banks can 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

Guaranteed income financial plan refers to a financial plan in which a commercial bank promises to pay a fixed income to its customers according to the agreed conditions, and the bank bears the investment risks arising therefrom, or the bank promises to pay a minimum income to its customers according to the agreed conditions and bear the related risks, and other investment income is distributed by the bank and the customers according to the contract, so as to jointly bear the related investment risks.

Article 13

Non-guaranteed income financing plan can be divided into guaranteed floating income financing plan and non-guaranteed floating income financing plan.

Article 14

The financial plan with capital preservation and floating income refers to a financial plan in which a commercial bank guarantees the payment of 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 commercial banks pay income to customers according to agreed conditions and actual investment income, and do not guarantee the safety of customers' principal. Article 16

Commercial banks should establish and improve the management system of personal financial services, clarify the management departments of personal financial services, 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 consulting services from general business consulting 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

Commercial banks should establish and improve the internal control and regular inspection system of comprehensive financial services to ensure that comprehensive financial services comply with relevant laws and regulations and the agreement between banks and customers.

Article 19

Commercial banks should comprehensively standardize the research and development, pricing, risk management, sales, fund management and application, accounting treatment, income distribution and other links of financial planning, establish and improve relevant rules and regulations and internal audit procedures, and strictly supervise and manage internal review and audit.

Article 20

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

Commercial banks should sign contracts with customers to clarify the rights and obligations of both parties, and sign necessary power of attorney for customers and other legal documents necessary for investment on their behalf 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 transactions, and the basic assets shall be managed according to the savings deposit business, while the derivative transactions shall be managed according to the financial derivative products business.

Article 23

A commercial bank may not sell general savings deposit products as a financial plan alone, nor may it force the financial plan to be sold together with its savings deposits.

Article 24

The guaranteed income in the financial plan or related products that is higher than the interest rate of savings deposits in the same period shall be 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 of commercial banks' commitment to customers to guarantee income can be the right to adjust the term of financial planning, the right to convert currency, the final payment currency and the right to choose tools. 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

Commercial banks should set an appropriate time limit and initial sales amount according to the risk status of financial planning or related products.

Article 27

The financing funds raised by the sales financing plan of commercial banks 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 the financial plan, commercial banks should provide customers with bills of all relevant assets held by them, which should list the changes of assets, income and expenditure, final asset valuation and other contents. The bill should be provided at least twice, at least 1 time a month. Unless otherwise agreed between a commercial bank and its customers.

Article 29

Commercial banks should prepare the financial statements, market performance and related materials of various investment tools in the financial management plan on a quarterly basis, and relevant customers have the right to inquire or ask commercial banks 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.

Article 32

Commercial banks can charge customers appropriate fees in accordance with relevant regulations when conducting personal financial services, and the charging standards and methods should be specified in the contracts 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

Commercial banks engaged in personal finance business, involving financial derivatives trading and foreign exchange management regulations, should obtain corresponding business qualifications in accordance with relevant regulations.

Article 34

Commercial banks should report to the relevant departments in a timely manner in accordance with the relevant provisions of the state when they find customers suspected of money laundering, malicious evasion of tax administration and other illegal acts. Article 35

Commercial banks should establish a corresponding risk management system when developing 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 when conducting personal financial services, accurately define various legal relationships involved in personal financial services, clarify possible legal and policy issues, study and formulate corresponding solutions, and effectively prevent legal risks.

Article 37

When commercial banks use financial advisory services to promote investment products to customers, they should understand their risk preferences, risk awareness and tolerance, evaluate their financial situation, provide suitable investment products for customers to choose independently, and explain the operating market and mode of relevant investment tools to customers to reveal related risks.

Commercial banks should properly keep records of customer evaluation and consulting services, and properly keep customer information and other documents.

Article 38

Commercial banks should formulate financial planning or product R&D design workflow, formulate internal 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

Commercial banks should independently measure the capital cost and income of financial planning, and use scientific and reasonable measurement methods to predict the yield of financial portfolio.

Commercial banks may not sell financial plans that cannot be independently accounted for or have zero or negative returns.

Article 40

The publicity and introduction materials of commercial banks' financial planning 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

Commercial banks should set market risk monitoring indicators for financial planning 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 conduct sufficient stress tests on the reform and adjustment of major financial policies such as interest rates and exchange rates when managing relevant market risks, assess the possible impact on their 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

Commercial banks should formulate emergency plans for personal financial services and incorporate them into the overall business emergency plan system of commercial banks to ensure the continuity and effectiveness of personal financial services.

Article 44

Where the personal wealth management business involves financial derivatives trading or foreign exchange management regulations, commercial banks should establish corresponding management systems and risk control systems in accordance with relevant regulations. Article 45

Commercial banks carry out personal financial services under the examination and approval system and reporting system.

Article 46

Commercial banks 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 CBRC or its dispatched offices on relevant business plans, analyze and explain the allocation of relevant business resources, the understanding of major risks and corresponding management measures, and modify relevant business plans according to the opinions of CBRC or its dispatched offices.

Article 48

A commercial bank shall meet the following conditions when conducting personal financial services that require 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 the establishment of personal financial services that need approval:

(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.

Article 51

Commercial banks do not need approval to carry out other personal financial business activities, but should report to China Banking Regulatory Commission or its dispatched office in a timely manner in accordance with relevant regulations.

Article 52

Commercial banks should report to the China Banking Regulatory Commission or its dispatched offices when selling financial plans that do not need 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 financial managers of commercial banks shall meet the following qualification requirements:

(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

The 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 CBRC and its dispatched offices may, according to the actual needs of the development and supervision of personal financial services, organize relevant investigation and inspection activities in accordance with 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

Commercial banks shall make statistical analysis of personal financial services on a quarterly basis, and submit the relevant statistical analysis report (in triplicate) to the CBRC within 1 month of 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 finance business 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 and methods of personal financial services of commercial banks, the preparation of relevant statements and the disclosure of relevant information and statements shall be formulated separately by the China Banking Regulatory Commission. Article 61

Where a commercial bank conducts personal financial services under any of the following circumstances, the banking supervision and regulation institution may, in accordance with Article 47 of the Banking Supervision and Administration Law of the People's Republic of China and the Measures for Punishment of Financial Violations, deal with the directors, senior managers and other persons who are directly responsible, and 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 in any of the following circumstances, it shall be punished by the banking supervision and administration institution according to 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.

Article 63

Other illegal acts of commercial banks in carrying out personal financial services shall be punished by banking supervision institutions in accordance with corresponding laws and regulations.

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

If a commercial bank conducts personal financial services under any of the following circumstances, causing economic losses to its customers, it shall bear the responsibilities in accordance with relevant laws or contractual stipulations:

(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. Article 66

The "day" in these Measures refers to the working day and "month" refers to the "month" in the calendar.

Article 67

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 is responsible for the interpretation of these Measures.

Article 69

These Measures shall come into force as of June 6, 2005.