The CBRC issued the regulation of ＂double recording＂ of wealth management products
Xinhua News Agency, Beijing, August 23rd (Reporter Li Yanxia) In order to standardize the market order of wealth management products and control misleading sales and selling "flying orders" privately, the China Banking Regulatory Commission (CBRC) issued a regulation on the 23rd, requiring banking financial institutions to implement "double recording" in special zones, that is, to set up a sales zone and install an electronic system in the sales zone to simultaneously record and record the sales process of their own wealth management products and consignment products.
In recent years, the business of self-financing and agency sales of banking financial institutions has developed rapidly, and the types of products have gradually increased and the scale has been expanding. However, some institutions have some problems such as misleading sales and selling products privately in the course of business development, and cases of infringement of the relevant legitimate rights and interests of banking consumers are common.
The person in charge of the relevant departments of the China Banking Regulatory Commission said that the "double recording" in the special zone has strengthened the hard constraints on the sales behavior of banking financial institutions by technical means, strengthened their information disclosure obligations, and is conducive to standardizing sales behavior from the source.
In fact, in February 2016, the China Banking Regulatory Commission put forward principled guidance on the implementation of audio and video recording in the sales area for banking financial institutions. At present, most banking financial institutions have basically completed the construction of "double recording" in the sales area.
The Interim Provisions on the Management of Audio and Video Recordings in the Sales Zone of Banking Financial Institutions issued this time systematically standardized the management of "double recording" in the zone for the first time. Including banking financial institutions selling their own wealth management products and consignment products in business premises, not outside the sales area; Except for the government bonds and physical precious metals on consignment, whether to "double record" can be decided by itself, other wealth management and consignment products should be "double record" in the special area; Audio and video recordings should completely and objectively record key sales links such as marketing promotion, related risks and key information tips, consumer confirmation and feedback; Audio and video recording should be approved by consumers, and if they don’t agree, they can’t sell products; It is strictly forbidden for sales personnel to operate and purchase products on behalf of customers on electronic devices such as self-service terminals.
The person in charge of the relevant departments of the China Banking Regulatory Commission said that the implementation of the regulations is of great significance for regulating the business behavior of banking financial institutions, resolving disputes and complaints, and protecting the legitimate rights and interests of banking consumers. At the same time, it also provides a new regulatory tool and an important starting point for the regulatory authorities to carry out behavioral supervision.