CBIRC Issues Notice on Establishing Special Products by Insurance AMCs
CBIRC issued a notice that sets out requirements to be met by the insurance asset management companies when they establish a special product. The notice is addressed to insurance companies, holding companies of insurance companies, and insurance asset management companies (AMCs).
The notice covers the following key requirements:
- Sets out conditions for the product manager, with the product manager being required to have the qualification for issuing portfolio insurance asset management products
- Clarifies the investment scope of special products, mainly including listed company stocks, publicly issued bonds of listed companies and their shareholders, and non-publicly issued exchangeable bonds
- Focuses on the exit arrangements for special products by supporting the role of insurance institutions in the role of institutional investors, maintaining the long-term stable operation of listed companies, and clarifying the exit arrangements and procedures of products to ensure a smooth exit
- Requirements to develop special product risk management and control measures, including the specific requirements put forward from the aspects of account management, closure period, duration, investment concentration, pre-registration, information disclosure, and related transactions
- Clarifies that the product is not included in the investment ratio of the equity assets of the insurance company
Related Links (in Chinese)
Keywords: Asia Pacific, China, Insurance, Special Products, Insurance Asset Management Companies, CBIRC
Previous Article
IMF Reports on the 2017 Article IV Consultation with VietnamRelated Insights
|
News
US Agencies Propose Derivative Counterparty Credit Exposure FrameworkUS Agencies (OCC, FED, and FDIC) proposed to implement a new approach for calculating the exposure amount of derivative contracts under the regulatory capital rule.
December 17, 2018
WebPage
Regulatory News
|
|
News
HKMA Announces Intention to Consult on Updated BCBS Disclosure RulesHKMA announced that it will consult the industry in due course on the relevant implementation proposal to give effect to the disclosure requirements of the December 2018 package by BCBS.
December 17, 2018
WebPage
Regulatory News
|
|
News
HKMA Issues and Revises Reporting Forms Under the IRRBB FrameworkHKMA issued a revised version of the Supervisory Policy Manual (SPM) IR-1, with an updated title “Interest Rate Risk in the Banking Book” (IRRBB).
December 14, 2018
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Second Update for December 2018EBA published answers to six questions under the Single Rulebook question and answer (Q&A) updates for this week.
December 14, 2018
WebPage
Regulatory News
|
|
News
OSFI Proposes Changes to Guideline on Large Exposure LimitsOSFI proposed revisions to the Guideline B-2 on Large Exposure Limits, for implementation in the first quarter of 2020.
December 13, 2018
WebPage
Regulatory News
|
|
News
BCBS Consults on Disclosure Rules for Leverage Ratio Window-DressingBCBS published a consultative document on revisions to the leverage ratio disclosure requirements to address the leverage ratio window-dressing behavior.
December 13, 2018
WebPage
Regulatory News
|
|
News
PRA Updates the Policy on Approach to Systemic Risk BufferPRA published the final Statement of Policy on the PRA approach to the implementation of the systemic risk buffer (SRB), as proposed in the consultation paper CP29/18.
December 13, 2018
WebPage
Regulatory News
|
|
News
EP Report Examines Financial Supervision and Regulation in USEuropean Parliament published a report that provides a concise overview of the Dodd-Frank Act, the challenges of its implementation, and efforts to roll back the Act, in large part due to what are viewed to be vague and impractical provisions.
December 12, 2018
WebPage
Regulatory News
|
|
News
FED Proposes to Revise Several Reporting Forms Including FR Y-9CFED proposed to extend for three years, with revision, the FR Y-9, FR Y-7N, FR Y-11, and FR 2314 family of reports, in addition to the forms FR 2886b, FR Y-8, FR 2248, FR 2320, FR 2644, and FR 2886b.
December 12, 2018
WebPage
Regulatory News
|
|
News
EBA Finalizes Guidelines on the STS Criteria in SecuritizationEBA published the final guidelines that provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS) on a cross-sectoral basis throughout EU.
December 12, 2018
WebPage
Regulatory News
|
