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Registration to Filing: CBIRC Loosens Restriction for Insurance Asset-backed Schemes and Private Equity Funds

Mon, 08 Nov 2021
Categories: China Legal Trends

China Banking and Insurance Regulatory Commission (CBIRC) released on 28 Sept. 2021 the “Circular of the General Office of the China Banking and Insurance Regulatory Commission on Matters Relating to the Filing of Asset-backed Plans and Insurance Private Equity Funds” (the “Circular”, 中国银保监会办公厅关于资产支持计划和保险私募基金登记有关事项的通知), which was implemented from 1 Oct. 2021.

The Circular, consisting of seven articles, aims to further standardize product launches and improve the efficiency of product launches by clarifying the filing process, shortening the filing period, and clarifying the responsibilities of institutions.

The Circular clearly states that asset-backed plans are subject to the system of first-time declaration and approval and follow-up filings, specifying that the first product shall be approved by the CBIRC, while follow-up products shall be established by the insurance asset management institution concerned and filed with China Insurance Assets Registration and Trading System Co., Ltd. 

An insurance private equity fund is established by a subsidiary of the insurance asset management institution and filed with the Insurance Asset Management Association of China.



Cover Photo by 丁亦然 on Unsplash

Contributors: CJO Staff Contributors Team

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