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The China Securities Regulatory Commission: resolutely investigate and deal with violations of laws and regulations by securities investment consulting agencies

January 11, 2019 20:22
source: SFC website

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Summary
[SFC: Resolutely investigate and deal with violations of laws and regulations by securities investment advisory agencies] Recently, the CSRC has intensified law enforcement inspections against the improper marketing and illegal operation of some securities investment consulting institutions, and has cleared the industry disciplines and concentrated on a number of cases. In 2018, administrative supervision measures were taken against 58 consulting agencies or their branches, and 35 administrative measures were ordered to suspend new customers. If administrative punishment is imposed according to law, administrative punishment has been implemented or the procedure for filing an investigation has been initiated. (CSRC)

Recently, for the partStock investmentIn the case of improper marketing and illegal operation of consulting organizations (hereinafter referred to as consulting organizations), the CSRC intensified law enforcement inspections, cleared industry disciplines, and concentratedly investigated and handled a number of cases. In 2018, administrative supervision measures were taken against 58 consulting agencies or their branches, and 35 administrative measures were ordered to suspend new customers. If administrative punishment is imposed according to law, administrative punishment has been implemented or the procedure for filing an investigation has been initiated.

In the next step, the CSRC will continue to maintain a high-pressure supervision situation with the industry associations, increase the intensity of inspection and law enforcement and self-discipline management, and comprehensively apply administrative supervision measures, administrative penalties and disciplinary measures to the consultation agencies that have violated laws and regulations. Strictly investigate and investigate the responsibilities of relevant agencies and personnel; if the circumstances are serious, the business license shall be revoked; if the suspect is involved in a crime, it shall be transferred to the judicial organ for criminal responsibility.

The consulting organization shall abide by the provisions of laws and regulations, follow the principles of objectivity, fairness and honesty, perform due diligence, diligence and conscientiousness, and effectively protect the legitimate rights and interests of investors;PerformanceConduct false, false, exaggerated, misleading marketing propaganda; may not promise investment income; may not agree with investors to share investment income or share investment losses; the consulting firm engaged in securities investment consulting business should have qualifications for employment.

The CSRC reminds investors that before accepting securities investment consulting services, it should verify whether the service organizations and personnel hold legal qualifications and whether there are restricted businesses. Specific information can be found on the website of the Securities Regulatory Commission on the “Regulatory Information Disclosure Catalogue” and the China Securities Industry Association website. The institutions that have been suspended by the CSRC to suspend new customer administrative supervision measures or those who have been suspended by the Association for disciplinary action have been clearly listed. . When investors accept securities investment consulting services and find that there are violations of laws and regulations in the consulting organization, they can call the relevant hotline to make complaints and reports.

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(Article source: SFC website)

                (Editor: DF075)

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