严管背景下中小券商资管业务路径探寻

Exploration of Paths for the Asset Management Business for Small and Medium-sized Securities Companies against the Strict Regulation Background

2014年以来,监管层针对我国资产管理业务发展中暴露出来的问题,陆续发布一系列政策文件,呈现明显的从严监管趋势。2018年4月《关于规范金融机构资产管理业务的指导意见》成为覆盖全面的纲领性原则性文件,大资管格局将得到重塑。论文描述我国券商资管市场格局,分析资管新规对中小券商资管业务的影响,指出其面临的传统业务受阻、客户需求偏差、营销渠道狭窄等方面的存在问题,提出提升主动管理能力、拓展三方代销渠道、创新产品设计服务等具体措施,力求拓展从严监管背景下券商资管业务发展的新路径。

Since 2014,the regulatory authorities have issued a series of polices in response to the problems in the development of China＇s asset management business,which indicates that supervision is getting more and more strict.In April,2018,the ＂Guiding Opinions on Regulating the Asset Management Business of Financial Institutions＂ has become a comprehensive guideline.The pattern of big capital management will be reshaped.This paper objectively describes the market structure of asset management,analyzes the impact of the new asset management regulations on small and medium-sized securities companies,and points out the problems such as the obstruction of traditional businesses,deviations in customers＇ demand,and the limitation of marketing channels.Also,this paper proposes specific solutions,such as upgrading proactive management,expanding the three-party sales agency channels,and innovating product design services,and strive to expand the new path for the development of asset management against the strict regulation background.