The reporter learned from the China Securities Regulatory Commission on May 9 that in order to further enhance the risk prevention capabilities of the securities settlement system and strengthen the full process management of securities settlement risk funds, in accordance with the relevant provisions of the Securities Law and in combination with the needs of market development, the China Securities Regulatory Commission, together with the Ministry of Finance, drafted and formed the "Securities Settlement Risk Fund Management Measures (Draft for Soliciting Opinions on the Revised Draft)", and now publicly solicits opinions from the public.
China Securities Regulatory Commission Data Picture
It is understood that the management measures were formulated in 2000 and revised in 2006. They are normative documents that regulate the management and use of securities settlement risk funds, ensure the safe operation of securities settlement systems, and prevent and resolve securities market risks. The revision of the management measures is to further improve the risk fund management system and adapt to the needs of securities market development and settlement risk prevention and control.
The management measures revised this time will adapt to the collection scope based on market development. Clarify that the scope of the risk fund collection includes equity products, fixed income products, and pledge repurchase business.
At the same time, differentiated adjustments will be made to the payment ratio of risk funds in accordance with the corresponding settlement risks of various types of businesses. The proportion of current securities transactions of the rights and fixed income types of settlement participants has been reduced to three-tenths of the original standard, and the proportion of the proportion of pledge repurchase business remains unchanged.
In terms of optimizing investment management and deposit, the revised management measures improve the investment management methods of risk funds, clarifying that the use of funds of risk funds is limited to bank deposits, purchase of key-term treasury bonds, and other forms of funds approved by the China Securities Regulatory Commission and the Ministry of Finance. At the same time, it is clear that risk funds should choose state-owned commercial banks as deposit banks of the funds through competitive or inquiry methods, and limit the investment ratio of risk funds. (Reporters Liu Yujia and Liu Hui)
