Yesterday (19th), the China Securities Regulatory Commission formulated and issued the “Regulations on the Administration of Securities Transaction Fees for Publicly Raised Securities Investment Funds”. The regulations will be officially implemented on July 1, 2024. The “Regulations” consist of 19 articles. There are four main aspects, including reducing commission rates for fund stock trading; lowering the upper limit of commission allocations for fund managers; comprehensively strengthening relevant compliance and internal control requirements for fund managers and securities companies; and clarifying the content and requirements for disclosure of transaction commission information at the fund manager level. Regarding adjustments in transaction commissions, the “Regulations” require that the upper limit of commission distribution ratio be maintained at 30% for managers with equity fund management scale of less than 1 billion yuan; for managers with equity fund management scale exceeding 1 billion yuan, the upper limit of commission distribution ratio should be reduced from 30% to 15%. (CCTV News)