The China Banking and Insurance Regulatory Commission issued new regulations on the disclosure of asset management products by banks and insurance institutions: focusing on 5 major points to prevent "fleeting performance".

The China Banking and Insurance Regulatory Commission issued the "Administrative Measures for the Disclosure of Asset Management Products of Banking and Insurance Institutions", which is based on the principle of "same business, same standards", and clearly unified the basic principles, responsibilities, common contents, and internal management requirements of asset management trust products, wealth management products, and insurance asset management products. The Measures systematically regulate the information disclosure behavior of these three types of products, urge institutions to strictly fulfill their fiduciary duties, fully guarantee investors' right to information and choice. Compared to the draft for comments, the official version has five major amendments: first, deleting the mandatory disclosure of "custody agreements" by the person responsible for disclosure at the time of sale; second, adding situations requiring the mandatory disclosure of product performance benchmark comparisons; third, adding requirements for the preparation of periodic reports; fourth, refining the net value presentation methods of cash management products and non-cash management products; fifth, adding and exempting situations requiring temporary report disclosure.