Suzhou Rural Commercial Bank has been issued a warning letter by the Jiangsu Securities Regulatory Bureau for multiple violations in its fund sales business. An investigation found that the bank's assessment and evaluation system for fund sales personnel did not include indicators such as the scale of fund sales holdings that reflect investor interests and long-term investment philosophy. The bank failed to conduct scientific and effective risk assessments based on factors such as the investment scope, investment strategy, investment proportion, and risk profile of the fund products it distributes. Compliance and risk control personnel did not issue compliance review opinions for newly sold fund products. The simulated historical performance of fund regular investment plans displayed on the bank's app did not note information such as the compound annual average rate of return. The 2024 annual fund sales supervision and audit report was not completed within three months from the end of the year. In terms of suitability management, when providing services for some investors to purchase funds, the bank did not obtain information such as investors' income sources, assets, and debts as required, and did not pay sufficient attention to situations where some investors underwent multiple assessments within a single day or experienced abnormal changes in risk levels.
Jiangsu Wujiang Rural Coml BkBank received warning letter for fund sales violations, regulatory action against its business practices.
