Latest Round of Fund Advisory Qualification Defenses Begins This Week; Dozens of Brokerages Participate in Staggered Sessions

The latest round of fund advisory qualification application review has reached a critical stage. Following the closure of the declaration window at the end of August, brokerages have successively received notices from regulators to prepare for fund advisory defenses, which will commence this week in staggered batches involving approximately dozens of brokerages. According to the process, regulators first review submitted materials and then organize defense sessions, focusing on material completeness, adequacy of business preparation, and compliance records. During the defense phase, attention is not only paid to whether institutional documents are complete but also to business models, system capabilities, personnel allocation, risk control, and customer service arrangements. As of now, there are approximately 60 fund advisory pilot institutions, including 29 brokerages. (Caixin)