Brokerage Pb business unexpectedly hot shell or cause three wave of private offering tide – Sohu sec-www.sdosta.org.cn

PB brokerage business unexpectedly popular "shell" or by the three wave of private offering tide – Sohu securities reporter Tan Chudan reported in Shenzhen last year after cleaning with capital OTC, registration of new regulations to tighten up the main private record this year, the broker brokerage business (PB) once again pushed to the front of the stage. A number of brokerage institutions to reporters reflect, private placement of new regulations, PB private equity products to accelerate the pace of release. By hosting clearing, research support, leveraged financing, net worth accounting review, investment supervision services, PB business is increasingly favored by private equity. Brokerage PB business to meet business years started soon, one in the central region of the brokerage in social media stressed that "in accordance with the management rules of private institutions, private institutions after registration, has not sent a private product license will be cancelled (self published), the most recent one time node is May 1st, such as to protect the shell, please not independent private institutions issued products to contact us as soon as possible." And he is pushing the broker’s PB business. The so-called PB business, which is the main broker business, is referred to as hedge funds and other high-end institutional clients focus on trust and clearing, back office operations, support, financing, securities lending, leveraged funds and other one-stop financial services, mainly divided into managed and outsourcing services. The private registration of new regulations, in the industry view, once again stimulate the private service market, and securities companies are one of the main beneficiaries. According to the Fund Industry Association statistics, since February 7, 2014 officially launched private equity fund managers, private equity fund registration filing and self-discipline management, private equity fund industry is developing rapidly, as of the end of January 2016, registered private equity fund managers 25841, 25461 private equity fund for the record has been subscribed, the scale of 5 trillion and 340 billion yuan, paid 4 trillion and 290 billion yuan scale, private the fund industry practitioners 389 thousand and 900 people. The general manager of a Shanghai business department acknowledges this opportunity, and expects to launch a new product issue in May, August and December. And record products to hosting fees and outsourcing fees, brokerage revenues considerable. Shenzhen branch of a brokerage company also said that the recent business is good. "Because the association’s new regulations accelerate the pace of private offerings." Private securities over private licenses for value for three kinds of cases under the new regulations, regulators will cancel the qualification for the record. In the above Shanghai business department general manager’s view, some of the private placement has missed the opportunity to produce products last year, now faced with embarrassing situation. He said, "the first half of last year we made fifty or sixty products, do not meet half of the stock market crash, behind, which is not in accordance with the terms of the agency, now until the condition standards before they can issue." "When we learned that 11-12 months of private equity registration policy is likely to tighten, therefore recommends that customers do a small product with prevent problems, but they did not listen, now do not want to do, because some of the newly established customers, internal qualification is not perfect." The head of a Southern China listed brokerage agency thinks the licence is not that important. "Dan Dan"

券商PB业务意外火爆 “保壳”或致三波私募发行潮-搜狐证券   本报记者 谭楚丹 深圳报道  继去年场外清理配资后,今年私募备案登记新规收紧,把券商的主经纪商(PB)业务再次推到台前。多个券商机构部人士向记者反映,私募新规后PB业务私募产品发行速度加快。  凭借托管清算、研究支持、杠杆融资、净值核算复核、投资监督等服务,PB业务愈来愈受私募青睐。  券商PB业务再迎商机  年后开工不久,一名在华中地区的券商人士在社交媒体上强调,“按照私募机构管理新规,私募机构注册登记后,还没有发过产品的私募牌照将会被注销(自主发行),最近一个时间节点是5月1日,如需保壳,请未自主发行过产品的私募机构尽快和我们联系。”  而他正是力推券商的PB业务。  所谓PB业务,即是主经纪商业务,是指向对冲基金等高端机构客户提供集中托管清算、后台运营、研究支持、杠杆融资、证券拆借、资金募集等一站式综合金融服务的统称,主要分为托管和外包服务。  此次私募登记出台新规,在业内人士看来,再度刺激私募服务市场,而券商则是主要受益者之一。  根据基金业协会统计,自2014年2月7日起正式开展私募基金管理人登记、私募基金备案和自律管理工作,私募基金行业发展迅速,截至2016年1月底,已登记私募基金管理人25841家,已备案私募基金25461只,认缴规模5.34万亿元,实缴规模4.29万亿元,私募基金行业的从业人员38.99万人。  上海一家营业部总经理承认此次迎来商机,他预计在5月、8月、12月各会出现一波新产品发行。而备案的产品要出托管费与外包费,券商收入可观。  深圳一家券商分公司机构部人士亦表示,最近生意不错。“因为协会的新规加快了私募发行产品的进度。”  券商激辩私募备案牌照价值  对于新规中三类情形下的私募,监管层将取消其备案资格。在上述上海营业部总经理看来,部分已经备案的私募在去年错失发产品机会,如今面临尴尬境遇。  他表示,“我们去年上半年做了五六十只产品,做到一半遇到股灾,后面没有发出来,其中有未符合条件的机构,现在要等到条件达标才可以发行。”  “我们在11-12月的时候了解到私募备案登记政策可能会收紧,因此建议客户先做一个小产品放着防止出现问题,但他们没有听取意见,现在想做也做不了了,因为有些新成立的客户,内部资质并不完善。”  华南一家上市券商机构部老总则认为牌照并没有那么重要。“注销以后还可以再申请,只要符合规定即可。市场有2万多家私募,备案牌照没有多少含金量。若是为了保住资格而着急发产品,连市场销售情况也不顾的话,这么做没有太大意义。”  PB业务成为更多私募首选  随着去年场外配资的清理,券商PB业务逐渐走到台前。  深圳一名私募董事长表示,券商的PB业务与信托的托管服务同质化,差别并不大。“券商收费要比信托稍低,单个产品发行门槛比信托低,其他都基本一样。券商去年因配资而清理杠杆,部分券商把私募带有信托的产品也清理掉,然后对接PB系统,我觉得这是跟信托公司抢客户。”  记者在采访中了解到,越来越多的私募选择使用券商PB业务系统。广州一家私募人士表示更看重券商PB业务提供的研究服务、渠道,以及融资融券可以助其灵活加杠杆。  另有私募人士反映称,此前由于单独申请私募备案牌照,在申请过程中,由于屡次递交材料不符合要求被重新打回,前后花去数月。  上述上海营业部总经理表示,去年私募登记备案一直没有出正式规定,都是窗口指导,所以机构单独申请会遇上麻烦。“我们2013年开始做,2014年推行,为很多家私募备案,备案细节和政策变化都会提前关注到,未来及时规避,因此私募备案登记最好找机构来做。”  据其透露,递交材料到完成备案只需要20个工作日时间,“如果私募在独立准备时没有充分准备材料,只要一打回,提交要重新按照20个工作日流程走,时间就会拖长。”其去年提交的十余家私募材料,都是一次性通过。  而上述深圳一家券商分公司机构部人士亦表示,大概需要一个月左右即可完成备案。  作者:谭楚丹相关的主题文章: