Securities Regulatory Commission: Investigating illegal "smart care" services according to law

With the fieryness of AI (artificial intelligence) technology and the transitional financial technology companies of Internet finance companies, there have been a number of smart investment products that are known to use AI to help users manage their finances. Among them are well-known Miyaki and Blue Ocean Zhitou.

Apart from technical factors, some intelligent investment services are actually used as banners. Sales of investment fund products have not even obtained corresponding licenses. To this end, at today’s press conference, the press spokesperson for the Securities Commission Zhang Xiaojun responded to relevant questions and stated that if it is found that the Internet platform has not been registered, it will be investigated and dealt with according to law.

Q: We have noticed that many Internet platforms are engaged in the sales of securities fund products under the banner of intelligent investment and intelligent financial management, but they have not obtained corresponding licenses. What do the regulatory authorities have to say about this?

A: According to the relevant provisions of the "Securities Investment Fund Law" and the "Securities Investment Fund Sales Management Measures", public equity investment fund managers and institutions that are qualified to obtain the public securities investment fund sales business may engage in the sale of public offering securities investment funds; If the company is registered by the China Securities Regulatory Commission and engages in the sale of public offering securities investment funds without authorization, the China Securities Regulatory Commission will punish relevant institutions and personnel according to law. I will maintain a high degree of concern and find that if the Internet platform is not registered and intelligent public investment funds are used to conduct public offerings of securities investment fund sales activities, they will be investigated and dealt with according to law.

In fact, smart investment advice is an investment advisory service that requires practitioners and companies to have qualifications and licenses. In addition, at present, the exploration significance of domestic smart investment and care is still greater than the actual significance, and some companies just let users do risk appetite test to recommend investment choices, which is totally not smart. With domestic financial markets still immature and financial data not comprehensive, intelligent investment is still a gimmick.

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