If necessary, the wealth management company must apply for a license from the financial management department before it can engage in the corresponding sales business.

If there is no corresponding license and no wealth management company, it is suspected of illegal unlicensed operation, which is a kind of illegal operation and a criminal case.

The so-called license refers to the basis for establishing a "financial asset management company".

A national financial asset management company shall be established in accordance with the Regulations on Financial Asset Management Companies, and a financial license shall be issued by the People's Bank of China.