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The Guidance of AMAC for Special Membership in the Category of Asset Management

[2013-01-30]

Article 1
The Guidance is formulated according to the Bylaws of the Asset Management Association of China, to the Measures of the Asset Management Association of China for the Administration of Membership, and to other rules, with an aim to provide better services to various asset management institutions, to facilitate industrial and international exchanges, to implement self-disciplinary administration, to enhance social credibility, and to promote a sound development of the industry.

Article 2
Any asset management institution meeting the requirements provided in the Guidance may join Asset Management Association of China (“Association”) as a special member according to the Measures of the Asset Management Association of China for the Administration of Membership, and enjoy the rights and obligations stated.

Article 3
A domestic asset management institution that meets the following requirements may apply for membership in to the Association as a special member if:

1. It provides asset management services to third parties, for the purpose of obtaining rewards;

2. The registered capital is no less than 10 million RMB and the asset managed in the one year is at least 100 million RMB;

3. It has good market reputation, no unfavorable creditrecord, and no violationsof competent regulatory or administrative authorities in the latest one year;

4. It's key person-in-charge has no unfavorable credit record and has at least three years’ experience in investment management.
 

The Association will recommend special members to several authorities for their opening of securities collective investment accounts, and will exercise self-disciplinary administration on the special members with reference to the asset management services provided by fund management companies for specific clients.

Article 4
A foreign asset management institution that meets the following requirements may apply for membership of the Association as a special member:

1. If it has QFII qualifications approved by the China Securities Regulatory Commission, or the asset managed is at least 500 million USD

2. If it has a good credibility record, and no punishment by competent regulators in the latest one year

Article 5
An overseas subsidiary set up by a fund management company and engaging in investment management businesses may apply for a special membership of the Association.

Article 6
Regional asset management associations may apply for membership of the Association as special members.

Article 7
The services provided by the Association to the special members in the category of asset management include but are not limited to the following:

1.Reporting the demands of the industry to competent government authorities, regulators and legislative organs, assisting the members to understand and implement public policies in relation to the securities market, and putting forward suggestions for the formulation of relevant regulations and rules with respect to securities and fund market;

2.Supporting and assisting the members to conduct business renovation and development in respect of fund raising methods, investment target, back office operation, product distribution, etc.;

3.Promoting exchanges and cooperation among the members of all categories, and organizing international exchanges, exchange visits and cooperation;

4.Conducting training on laws, regulations and professional knowledge and for practitioners, and implementing the practitioner qualification examination and certification;

5.Collecting, reorganizing and summarizing information on asset management institutions, conducting industrial research on asset management institutions, and providing information consulting services to the members;

6.Organizing the members to formulate the ethics, code of business conduct and valuation standards of the asset management industry, so as to consistently improve the self-disciplinary level of the industry;

7.Organizing the members to implement investor education and media propaganda and to fulfill the principle of investor suitability, mediating major disputes, and providing services of membership publicity and query; and

8.Other services required by the members.

Article 8
The special members carrying out business in China shall be subject to the self-disciplinary administration by the Association, abide by laws, regulations and the self-disciplinary rules of the Association, conscientiously fulfill their duties and perform their obligations of being honest, keeping good faith and being prudent and diligent, and implement the code of conduct in the industry.

Article 9
The special members shall pursuant to relevant rules regularly report to the Association on such relevant statistics as the names of the products under management, the scale of assets under management.

Article 10
The annual membership dues shall be paid by the members voluntarily, but shall be no less than RMB 20,000.

Article 11
Commercial banks, insurance companies, trust companies, securities companies, futures companies and other financial institutions or their domestic or foreign asset management subsidiaries may join in the Association as special members, by referring to the Guidance.

In the case that any of the institutions mentioned in the foregoing paragraph has obtained membership of the Association, its asset management department may appoint delegates to attend relevant activities of the Association.

Article 12
The Guidance shall come into effect as of the date of promulgation, and shall be interpreted by the Association.

Introduction of AMAC

membership application

Guidance for Special Membership.doc

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