Research On The Supervision Mechanism Of Financial Institutions' Asset Management

In recent years,various financial institutions have begun to be approved to develop asset management business.Specifically,it includes bank wealth management,trust company trust,brokerage asset management,fund management company public fund,fund management company and its subsidiary company,insurance company asset management,futures company asset management,and private equity fund managers of non-financial institutions.Eight types of private equity funds.The overall scale of China's asset management business continues to climb.However,under the system of separate supervision,each financial institution's asset management business has its own set of corresponding regulatory rules,which are regulated by different regulatory concepts and rules of the CSRC,the former CBRC and the former CIRC(now the China Insurance Regulatory Commission).The same as "dealer management",but lack of top-level design,the regulatory differences caused by many regulatory divisions,resulting in unfair competition among financial institutions.The countermeasures of various financial institutions are regulatory arbitrage,and the products are multi-layered,which in turn leads to increased financing costs,real funds to the virtual,and unclear systemic risks caused by the supervision.This paper believes that the securities company's asset management business and the trust company's trust plan are homogeneous business,but the regulatory differences caused by the separate supervision,as an example,lead to the unified supervision of homogeneous business.Look at the financial management business of each financial institution,explore the homogeneity of the financial institution's asset management business from historical sources,business models and basic legal relationships;explore whether it is possible to resolve the above without distinguishing financial institutions from unified supervision.There are three problems in unfair competition,long-term financing chain and difficult supervision of financial institutions.And from the introduction of unified regulatory laws and regulations;from the standard to the standard:from institutional supervision to penetration supervision and de-channeling unified supervision;from points to integration:unified regulatory agencies and data standards;from low to high:from The normative documents to the four aspects of the law propose the system concept of unified supervision of the financial management business of various financial institutions in China.