Learning the two regulatory rules of a securities company

The Securities Companies Risk Disposal Regulations and the Securities Companies Regulations are a summary of the comprehensive management results of securities companies. They are also a summary of the supervision of securities companies and the supervision experience of the entire capital market in these years. Through the study of the two "regulations", I deeply understand that securities companies can only continue, stabilize and develop healthily if they put risk prevention and compliance management first. Before the introduction of the two "regulations", more than 30 securities companies have been implemented to deal with the risk of recovery, closure or recovery business licenses. It also shows that the securities market is constantly standardizing and improving, customer-centric, and protection. The interests of investors are the main tone of supervision. It should be said that the introduction of regulations is relatively timely, and it has very important guiding significance for the development of securities companies. It is also the specific implementation of the Securities Law, the Company Law and the Bankruptcy Law.

In XX, the large concentration counters of securities companies were successively launched; XX began to deposit funds from securities company customers through third-party deposits; in XX, non-standard accounts were cleaned up. Before the introduction of the two “regulations”, securities companies began to Process is regulated. Especially for the tough battle of non-standard account cleaning, I personally experienced and felt the deepest. For example, cultivating machine accounts, borrowing other people's ID cards to open accounts, and incomplete customer information, Chinese investors have calculated more than 100 million in terms of accounts, and the actual number of investors is also 50 to 60 million. From the second half of last year to the end of April this year, from the headquarters to the sales department, especially the grassroots employees, from the National Day, the Spring Festival, this year’s New Year’s Day and many other holidays, there is basically no rest. After several months of efforts, standardize the account work. It has been basically completed, and the real name system has been basically implemented.

At present, the competition in the securities market is increasingly fierce. Each broker has its own marketing team. The Securities Regulatory Regulations define the concept of securities brokers for the first time in the law. Article 38 of the Regulations clearly states that a broker is entrusted by a securities company and that he is an agency relationship with a securities company. Second, securities brokers provide some services for investors in the process of securities brokerage business in securities companies. However, the law does not require securities companies to hire securities brokers to conduct securities business, but securities companies can follow the mode of operation. And the business development needs to entrust personnel outside the company to be securities brokers. Third, the law requires securities brokers to first have the qualifications of securities practitioners. Secondly, they must sign a commission contract with the securities company to conduct business within the scope of authorization of the securities company, and cannot exceed the authorization. In this sense, the interests of securities companies, brokers, and customers are protected by law. It has improved the quality of securities practitioners, standardized market marketing and service behavior, and provided legal guidance for the healthier development of the securities market.

Customer-centric, is the marketing company's marketing and service purposes. The externality of a securities company is very strong. If a securities company has problems, its basic information will not be disclosed. If investors do not know it beforehand, it may bring unnecessary losses to investors. The "Regulations" require securities companies to disclose information publicly, and can also play the role of the media and the public in supervising securities companies, and promote the continuous improvement of the management standards of securities companies. This is a further embodiment of the three public principles.

Through in-depth interpretation of the two regulations, combined with the actual business of our company's brokerage business, I believe that the following risk points are worthy of attention and standardization:

Account opening process, review process, customer development commission computerization, etc.