"Trust Company Management Measures": Trust companies shall establish a chief compliance officer in accordance with supervisory regulations.

On September 12, the China Banking and Insurance Regulatory Commission revised and issued the "Regulations on the Management of Trust Companies." Article 19 of Chapter 4, Internal Control and Risk Management, shows the new content that trust companies should establish a chief compliance officer in accordance with regulatory requirements to promote the construction of internal control and compliance management systems. The chief compliance officer should not be responsible for departments with conflicting responsibilities in internal control and compliance management. The board of directors of the trust company should designate a specialized department as the internal control function department, lead the development of the internal control system and internal control activities, and provide full guarantees in terms of personnel, compensation, independence, investigative authority, information systems, etc.