The official website of the people’s Bank of China announced yesterday that in order to standardize the online marketing activities of financial products and protect the legitimate rights and interests of financial consumers, the people’s Bank of China, together with relevant departments, drafted the administrative measures for online marketing of financial products (Draft for comments) (hereinafter referred to as the measures) and solicited opinions from the public.
In recent years, with the development and application of new information technologies such as big data, cloud computing and mobile Internet, the Internet has become an important channel for the marketing of financial products, and the relevant business models have undergone profound changes.
The measures focus on five prominent problems: marketing of illegal financial products, false and misleading publicity, violation of social public order and good customs, lack of appropriateness management and unfair competition, pay attention to giving full play to the joint efforts of various management departments, effectively connect with the existing regulatory system, from the basic principles and qualification requirements, content and code of conduct, cooperative behavior management It puts forward 34 specific requirements in terms of regulatory measures and legal liability.
The measures put forward the basic principles and business qualification requirements of online marketing, made it clear that the online marketing of financial products should follow the basic principles of law and compliance, public order and good customs, honesty and trustworthiness and fair competition, and required financial institutions to carry out or entrust Internet platform enterprises to carry out online marketing of financial products within the business scope approved by the financial management department.
At the same time, the measures prohibit any institution or individual from providing online marketing for illegal financial activities such as illegal fund-raising. It is prohibited to market private financial products to unspecified objects through the Internet.
In addition, the measures clarify the specific norms of marketing publicity content and behavior, require financial institutions to be responsible for the legality and compliance of online marketing publicity content, and establish an audit mechanism; The marketing publicity content shall fully disclose the key information of financial products in accurate and popular language, and shall not contain false, fraudulent or misleading content; When carrying out online marketing of financial products, various financial products shall be displayed in different areas, and harassing marketing and nested sales are not allowed; In addition, clarify the basic code of conduct for new marketing and combined sales such as precision marketing and live broadcasting.
In order to strengthen the management of marketing cooperation, the measures clarify the business boundary and management responsibility division between financial institutions and cooperative Internet platform enterprises, require financial institutions as business subjects to bear the management responsibility for marketing cooperation, sign a written agreement with cooperative Internet platform enterprises, and establish an access and exit management mechanism for cooperative Internet platform enterprises; Internet platform enterprises are required to carry out marketing activities in accordance with the contract, and shall not intervene or intervene in the sales business of financial products in a disguised form. At the same time, they shall strengthen the management of settled financial institutions, not mix brands with financial institutions, and shall not use financial words in websites, APP names and trademarks in violation of regulations.
In addition, the measures clarify the regulatory responsibilities of financial management, network information, telecommunications authorities, market supervision, intellectual property rights and other departments for the online marketing activities of financial products, as well as the legal responsibilities and punishment basis for financial institutions and Internet platform enterprises to violate the provisions of the measures.
The drafting instructions of the measures show that the formulation of the measures is an important measure to implement the decision and deployment of the CPC Central Committee on anti-monopoly and preventing disorderly capital expansion.
The formulation of the measures is also an inevitable requirement for implementing the people-centered concept. The drafting notes of the measures show that from the practice of Internet financial supervision in recent years, the problems of selling illegal financial products to financial consumers or inducing financial consumers to buy financial products that do not match their financial status and risk-taking ability are more prominent, which infringes on the property safety of the people. Preventing and dealing with relevant risks is related to the vital interests of financial consumers. We must strengthen the supervision of financial institutions and Internet platform enterprises from the source link of financial product marketing.
(Shanghai Securities News)
