Paypal accused of walking a fine line: the hidden risk fund unlicensed salesSource: 21st Century Network ???? Author: Rao Yuzhe case Alipay seemingly direct, big walking a fine line, is actually doing business 'unlicensed sales' Celestica Fund. 'Ali is a favorite gimmick finance company, today (June 17), Paypal once again playing 'bank robbery business' gimmick.' A person familiar with Alibaba, he said. The person referred to, it is Celestica fund Alipay (China) Network Technology Co., Ltd. (hereinafter referred to as 'Alipay') held a press conference to announce the two will jointly carry out online banking business issue. However, the move in the fund industry seems, Paypal suspect consignment fund, in the case of the seemingly direct, big walking a fine line, actually do is 'unlicensed sales' business Celestica Fund. 21 Century Network on the above question trying to communicate with Celestica fund, but until press time the company Air Jordan 13 did not give any reply. Operation Restore: 'unlicensed sales' Alipay accused of walking a fine line on June 17, Paypal and Tianhong Fund held a press conference, declaring the two will jointly conduct online financial services. Under the 'Balance Nike Air Max 2012 Bao, make payments into the era of customer value' propaganda, Paypal users and related investors are more concerned about is the balance day Huge Jinzeng Li Bao Bao and concrete cooperation. 21 Century Network in the day, experience a bit carried balances Alipay treasure operational processes. First, after landing Alipay account balance in decentralization will see the 'Balance Bao', click 'into' treasure page shows the balance of co-tenants: Celestica fund, and displays the name of the fund, fund code, PayPal account, real name and identity card number. At the same time, the lower end of the above information shows 'Balance Bao Service Agreement' and 'Tianhong Fund Management Co., Ltd. online trading direct self-service front desk Agreement' page defaults to agree. When the 21st century network clicks 'confirmation', the input into the amount. In this case, the page is displayed in 'Using encountered a problem' and prompt Nike Air Max 2015 'Bao is the balance of the funds to purchase the appropriate financial products to fund companies and other institutions, the balance of treasure initial support Tianhong Fund 'by Lee Po' Monetary Fund. 'Meanwhile, Paypal website, said' the IMF as a fund products, loss theoretically possible, but extremely small historical data, earnings stability risks. 'Click' Next ', the choice of payment payment , optional Paypal account balances and savings card quick payment (including cartoons) payments. Finally, after the transfer is successful, return to [Account Management - Account Balance Bao assets] in view of the balance. It is worth mentioning that for the first time into the need to make sure personally identifiable information, then you can directly enter the amount transferred. 'From the point of view operational processes, PayPal balance into Bao Bao is 弘增利 day subscription funds, only from this point of view, and other affiliates essentially no difference.' After the experience of the specific operation, one operator expressed . However, Alipay insiders believe Air Jordan RCVR that Celestica funds and Alipay cooperation, the official website of the Celestica Fund's direct sales system built in Alipay's website, it offers a buy IMF entrance convenient services to users. 'Request a subscription per user Alipay launched real time submitted by Celestica Fund's direct sales system for processing. PayPal does not help customers deal with the request. So, Alipay in which played only pay function does not involve the sales cycle. 'said Alipay insiders expressed. The source believes that the consignment is received by a third-party sales organization in one day purchase fund summary request again after docking fund companies, not every transaction is performed in real time. However, the relevant fund insiders do not think so. Shanghai, a fund practitioner, told the 21st Air Jordan 9 century network, 'The direct it means to fund the company's own sales, are generally carried out on their official website, without any third-party fees.' 'However, Celestica Fund and Alipay cooperation is very obviously have to pay a fee to PayPal, which is not hard to say a lot of the consignment. In addition, Celestica Fund's direct sales system is placed on top of third-party websites, also similar to the agency. 'The source said. It is worth mentioning that the Alipay only have a license third-party payment, does not have third-party sales license. In fact, out of the funds safety regulators, investment security, the provisions of a company can not only apply for a license third-party payment, but also to apply for a license third-party sales. At the same time, Beijing is also an industry source said, 'Alipay cooperation with the day 弘增利 Balance Bao Bao, both with the nature of the settlement, there is a little consignment nature, allegedly hit the edge ball.' 'Today on the Paypal look the next, and there is no obvious risk warning, in accordance with public fund management approach, such acts have a problem. Is the IMF there is no risk? 'one investor in the network put forward Nike Air Max 1 their own questions. In its view, the loss of money funds in the country frequently the case, the loss of a single day cases and case losses have occurred three days, so the balance of treasure to make risk warning is necessary. It is understood, June 8, 2006, ABN AMRO TEDA (now renamed 'Manulife TEDA') per million copies of Fund net Monetary Fund on the date of -0.2566 yuan. Subsequent June 9, Japanese earnings easy Fonda Monetary Fund has turned negative, earnings per million copies the day of -0.0409 yuan. Celestica fund management capability or being tested is also worth noting that the holder of Celestica Monetary Fund, the Fund can redeem through the balance of the treasure, and withdraw cash through Paypal. June 14, Tianhong Fund this announcement that, 'for the convenience of investors to take advantage of increased profits treasure money market funds and share redemptions fast payment feature, Celestica fund Alipay front of Celestica fund online trading direct Buffet Reception opening ceremony fast increasing share redemption and Liberty Fund payments business. 'The so-called rapid redemption Monetary Fund, which investors through online direct self-service reception, quick redemption requests submitted to the Fund, redeem Monetary Fund share corresponds to payments quickly reach investors PayPal account or when investors purchase Fund corresponding bank card account operations. Opening hours of the service for each calendar day. At the same time, the IMF share payment service, which investors through online direct self-service front desk, to apply for IMF share 'Balance treasure' within their PayPal account to pay for real-time business. It is understood that the normal time of purchase and redemption of the Fund for each working day of 9:30 to 15:00, that is consistent with the time the market opens. However, it is worth noting that the IMF through rapid redemption, there is no time limit on the above, each natural day can be redeemed days 弘增利 treasure. 'Through IMF rapid redemption, by the holders of Liberty can be redeemed in a non-working day in the IMF. And can be transferred to a bank card through PayPal. In general, withdrawals within 2 hours, Alipay need to pay a service fee. 'Celestica fund insiders told the 21st century network. Said rapid redemption may look very good, however, Celestica fund management puts to the test. Insiders pointed out that the ability to fund liquidity risk is weak to resist, once the fund has shrunk dramatically the situation arise or redeem investors focused investment, and in the hands of the fund holdings of liquid assets and make ends meet, the money market funds will face a serious passive situation. This situation occurs once have had. In 2015 Latest Nike Shoes 2006, several large domestic fund company's annual report shows that more than just the IMF since the Fund continue to experience large redemptions, and by a variety of causes bond market yields rose, causing the fund was facing greater liquidity risk. It has been shown Flush iFinD statistics, Celestica Fund's management 11 funds, whose assets under management was 11.704 billion yuan, ranked by assets in the industry's first 46. Fund industry experts this analysis, in general, the smaller size of the fund company fund, down from weak risk, liquidity risk is still relatively large.