bingopluscom| Donghai Securities, a brokerage listed on the New Third Board, is subject to regulatory measures!
Stock speculation to see Jin Kirin analyst research report, authoritative, professional, timely, comprehensive, to help you tap the potential of the theme opportunity!
There are also securities firms subject to regulatory measures!
Source: China Fund Daily
China Fund Daily Morning Dawn
The situation of "strict supervision and strict supervision" in the securities industry continues, and some securities firms are ordered to correct.BingopluscomAdministrative supervision measures!
On the evening of April 18, Donghai Securities, a brokerage listed on the new third board, issued a notice saying that it had received a decision document issued by Jiangsu Securities Regulatory Bureau. Due to problems such as imperfect internal control and inadequate comprehensive risk management, Donghai Securities has been ordered by Jiangsu Securities Regulatory Bureau to take corrective administrative supervision measures.
Jiangsu Securities Regulatory Bureau requires that Donghai Securities should seriously rectify and improve the level of compliance management, and submit a written rectification report to Jiangsu Securities Regulatory Bureau within 15 days from the date of receipt of the decision.
Let's look at the details--
Donghai Securities was ordered to correct
Involved in self-management, investment banking, etc.
First of all, there are illegal and illegal facts in Donghai Securities this time.
First, in terms of comprehensive risk management, Donghai Securities has not established a multi-level, interconnected, effective check and balance risk management operation mechanism. The organizational structure of risk control of proprietary business is unreasonable, risk management is not in place, risk limit management in equity business is not effectively implemented, and some fixed income business operations are not subject to effective checks and balances and supervision.
Second, from October 2020 to March 2021, Donghai Securities failed to complete the appointment and removal of supervisors of Donghai Investment Co., Ltd.
Third, in some investment banking projects, Donghai Securities did not establish a perfect underwriting risk assessment and handling mechanism; did not strictly examine the pricing basis of offline investors; did not record and file in accordance with the requirements; part of the investment value research report is not prudent and objective.
Based on this, Jiangsu Securities Regulatory Bureau takes administrative supervision and management measures to order the correction of Donghai Securities. Donghai Securities shall seriously rectify and improve the level of compliance management, and submit a written rectification report to Jiangsu Securities Regulatory Bureau within 15 days from the date of receipt of the decision.
With regard to the regulatory measures issued by the Jiangsu Securities Regulatory Bureau, Donghai Securities said that the company attaches great importance to the above issues and has urged relevant departments to carry out self-inspection and rectification in strict accordance with the requirements. The company will strengthen internal control management and risk management, strictly abide by the regulations and requirements of regulators, constantly improve the company's internal control management, and ensure that daily operations are legal and compliant.
He was placed on file for investigation in February last year.
According to public information, Donghai Securities was founded in Changzhou in 1993 and listed in the stock conversion system in 2015. By the end of 2022, Donghai Securities has a total of 71 securities business departments and 12 branches. In addition, Donghai Securities also controls Donghai Futures, Donghai Investment, Donghai Innovation Investment and shares in Donghai Fund.
In January this year, Qian Junwen, former chairman of Donghai Securities, resigned due to job adjustment. The following month, the board of directors of Donghai Securities elected Wang Wenzhuo as the new chairman of the company. It is reported that Wang Wenzhuo worked in Changzhou Branch of the people's Bank of China and other places for many years, and later served as deputy director of Changzhou Local Finance Bureau of Jiangsu Province and director of Changzhou State-owned assets Supervision and Administration Commission of Jiangsu Province.
Prior to this, Donghai Securities had planned to sprint for IPO and signed a listing coaching agreement with Citic Construction Capital in March 2022. In February 2023, Donghai Securities was placed on file by the Securities and Futures Commission for investigation on suspicion of failing to exercise due diligence in carrying out independent financial advisory business during the major asset restructuring of Jinzhou Cihang in 2015. So far, the regulators have not released the results of the investigation.
Recently, the regulatory authorities have continued to tighten the responsibility of intermediaries, and a number of securities firms have been put on file for investigation. On April 12, two brokerages, CITIC Securities and Haitong Securities, were filed by the Securities Regulatory Commission because they were suspected of violating the law and regulations in the process of transferring shares in 2023 in violation of restrictive regulations.
Subsequently, on the evening of April 16, Soochow Securities announced that it had been filed by the Securities Regulatory Commission on suspicion of failing to do its duty in the non-public offering sponsor business of Gome Communications and Zixin Pharmaceutical Co.
In addition, Huaxi Securities recently received advance notice of administrative supervision measures, and Jiangsu Securities Regulatory Bureau intends to suspend its qualification of sponsor business for six months. From the above point of view, Huaxi Securities is suspected of violating the rules in the practice of Jin Tongling's non-public stock offering sponsor program in 2019, including due diligence, false records of issuing stock listing recommendations to specific targets, and so on.
On April 12, Wu Qing, chairman of the CSRC, said in an interview that the CSRC will build an omni-directional and three-dimensional capital market regulatory system and fully implement the regulatory "tusk with thorns". Institutional supervision should promote a return to its origin, be better and stronger, further consolidate the responsibilities of "gatekeepers", guide securities and futures funds and other industry institutions to correct their business concepts, and enhance their compliance level, professional service capability, and core competitiveness.
In addition, the CSRC recently issued the "opinions on strengthening the Supervision of Securities companies and Public offering funds and speeding up the Construction of first-class Investment Banks and Investment institutions (for trial implementation)", which also mentioned that the responsibility of "gatekeepers" of investment banks will be further compacted to improve the ability of value discovery. We will persist in attaching equal importance to institutional and individual penalties, economic penalties and qualification penalties, regulatory accountability and self-discipline, and resolutely crack down on institutions and individuals that ignore or harm the interests of public investors in accordance with the law.