Formulation of the Guiding Opinions on Regulating Asset Management Businesses of Financial Institutions (new asset management regulations) was a hallmark event of the financial industry in 2018. A highlight of the new regulations is that implicit guarantee is prohibited and asset management should return to its basics.
Lantai Partners
Partner
In other words, asset management will be provided in the principle of due diligence of sellers and caveat emptor. This means that, in the event of losses on the asset management product, a dispute between the investor and asset manager will centre on how to determine causes to the losses and how to compensate for the losses.
At the level of legal relationship, investors and asset managers are in the trust legal relationship. The asset manager’s, or the trustee’s, statutory obligations of performance of duties and due diligence are specified in the Trust Law, the Contract Law, the Law on Securities Investment Funds, and applicable normative documents formulated by the financial regulator.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
Yao Xiaomin is a partner and Guo Xiaohan is an associate at Lantai Partners
29th Floor, Tower B, Disanzhiye Mansion
A1 Shuguang Xili, Chaoyang District
Beijing 100028, China
Tel: +86 10 5228 7777
Fax: +86 10 5822 0039
E-mail:
yaoxiaomin@lantai.cn
guoxiaohan@lantai.cn
