The State Financial Supervisory Administration issued the Measures for the Administration of Product Suitability of Financial Institution Groups

On July 11, the "Measures for the Administration of Product Appropriateness of Financial Institution Group" stipulates that the Financial Institution Group shall, in accordance with laws and regulations, perform its duties diligently and prudently, bear the main responsibility for the appropriateness management of the products sold or traded, and sell or provide the appropriate products to suitable customers through appropriate channels. Customers should choose, make prudent decisions, and bear risks according to their own circumstances on the basis of understanding the products and listening to the appropriateness matching opinions of the Financial Institution Group. The appropriateness matching opinions of the Financial Institution Group do not indicate that it makes substantive judgments or guarantees about the risks and benefits of the products. The Financial Institution Group shall clearly define the attributes, risk levels, rights and obligations of the products and the scope of suitable customers. Financial Institution Groups shall collect customer information within a reasonable range and evaluate customer situations.