Circular on Seeking Public Comments on the Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds
Circular on Seeking Public Comments on the Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds
Circular on Seeking Public Comments on the Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds
August 16, 2019
The China Securities Regulatory Commission ("CSRC") drafted the Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds by referring to the mature experience of overseas markets in order to further enrich the liquidity risk management tools of publicly-offered funds to protect the legitimate rights and interests of investors. It is hereby issued in order to seek public comments. The following ways and means are available for the public to put forward their opinions and comments:
1. Log onto the official website of the CSRC at http://www.csrc.gov.cn, go to the right-hand side of the homepage, and click the "Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds (Draft for Comment)".
2. Send a fax to 010-88061446.
3. Send an email to jigoubu@csrc.gov.cn
4. Send a letter to the Department of Intermediary Supervision of the China Securities Regulatory Commission, Fukai Building, No.19 Jinrong Street, Xicheng District, Beijing 100033.
The deadline for submitting comments is September 1, 2019.
Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds (Draft for Comment)
Article 1 The Guidelines are formulated in accordance with the Law of the People’s Republic of China on Securities Investment Funds, the Administrative Measures for the Operation of Publicly-offered Securities Investment Funds, the Provisions on the Liquidity Risk Management of Publicly-offered Open-end Securities Investment Funds and other relevant laws and regulations in order to strengthen the management and control of the liquidity risk of publicly-offered securities investment funds (hereinafter referred to as "funds") to protect the legitimate rights and interests of investors.
Article 2 [Definitions] For the purpose of the Guidelines, "side pocket mechanism" refers to the mechanism whereby specific assets in the fund investment portfolio are to be allocated from the original account to a special account for the purpose of independent management. The original account is the main pocket account, and the independent account is the side pocket account.
Specific assets as mentioned in the preceding paragraph include:
1.
......
August 16, 2019
The China Securities Regulatory Commission ("CSRC") drafted the Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds by referring to the mature experience of overseas markets in order to further enrich the liquidity risk management tools of publicly-offered funds to protect the legitimate rights and interests of investors. It is hereby issued in order to seek public comments. The following ways and means are available for the public to put forward their opinions and comments:
1. Log onto the official website of the CSRC at http://www.csrc.gov.cn, go to the right-hand side of the homepage, and click the "Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds (Draft for Comment)".
2. Send a fax to 010-88061446.
3. Send an email to jigoubu@csrc.gov.cn
4. Send a letter to the Department of Intermediary Supervision of the China Securities Regulatory Commission, Fukai Building, No.19 Jinrong Street, Xicheng District, Beijing 100033.
The deadline for submitting comments is September 1, 2019.
Guidelines for the Side Pocket Mechanism for Publicly-offered Securities Investment Funds (Draft for Comment)
Article 1 The Guidelines are formulated in accordance with the Law of the People’s Republic of China on Securities Investment Funds, the Administrative Measures for the Operation of Publicly-offered Securities Investment Funds, the Provisions on the Liquidity Risk Management of Publicly-offered Open-end Securities Investment Funds and other relevant laws and regulations in order to strengthen the management and control of the liquidity risk of publicly-offered securities investment funds (hereinafter referred to as "funds") to protect the legitimate rights and interests of investors.
Article 2 [Definitions] For the purpose of the Guidelines, "side pocket mechanism" refers to the mechanism whereby specific assets in the fund investment portfolio are to be allocated from the original account to a special account for the purpose of independent management. The original account is the main pocket account, and the independent account is the side pocket account.
Specific assets as mentioned in the preceding paragraph include:
1.
......