JR/T 0077-2014 in English
VALIDSample text of collective fund trust plan document
- Issued on:2014-10-16
- Implemented on:2014-10-16
- File Format:PDF
- Delivery:Via email within 6 business days
$950.00
| Standard No: | JR/T 0077-2014 |
| Document status: | VALID |
| Title in English: | Sample text of collective fund trust plan document |
| Title in Chinese: | 集合资金信托计划文件示范文本 |
| Language: | English |
| File Format: | Electronic (PDF) |
| Delivery: | Via email within 6 business days |
| Issued on: | 2014-10-16 |
| Implemented on: | 2014-10-16 |
| ICS Classification: | 03.060-Finances. Banking. Monetary systems. Insurance |
| Chinese Classification: | A11-Finance and Insurance |
| Professional Classification: | JR-Finance |
Introduction
Analysis of the core content of the standard
| File type | Core elements | Flexibility of special terms |
|---|---|---|
| Subscription Risk Statement | Risk disclosure, qualified investor confirmation | Special risk warnings can be added |
| Trust Plan Description | Product elements, trust manager information | Supplementary product feature description is allowed |
| Trust Contract | Rights and obligations of the parties, liquidation terms | Personalized management terms can be agreed upon |
Technical Specifications of Clause Types
General Clauses as the basic framework must include:
- Declaration of Independence of Trust Property
- Minimum Subscription Amount (starting from RMB 1 million)
- Basic Requirements for Information Disclosure
Special Clauses are allowed to be supplemented according to product characteristics:
- Special Credit Enhancement Measures
- Differentiated Allocation Mechanism
- Specific Investment Restrictions
Risk Management System
Six Core Risks that the Standards Mandatory to Disclose:
- Legal and Policy Risks
- Credit Risk
- Market Risk
- Management Risk
- Liquidity Risk
- Force majeure risk
Risk disclosure must adopt a double recording mechanism: the client must personally copy the risk confirmation paragraph before signing the contract.
Suggestions for document preparation and implementation
1. Text consistency control: When there is a conflict between the instructions and the contract, the trust contract shall prevail
2. Principles for formulating special terms:
- The mandatory requirements of the general terms shall not be weakened
- A complete logical system must be formed with the general terms
- Double review by the legal and compliance department
3. Beneficiary meeting mechanism: Major matters must be approved by more than 2/3 of the voting rights of representatives
Background of standard evolution
This standard was first issued in 2014, mainly to solve the following problems:
- Inconsistent format of trust documents
- Insufficient risk disclosure
- Lack of investor suitability management
After 2020, attention should be paid to the connection and application with the New Asset Management Regulations, especially in:
- Qualified Investor Identification Standards
- Non-standard Debt Investment Restrictions
- Net Value Management Requirements
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