Shanxi Regulatory Bureau of the CSRC: Administrative measure of issuing a warning letter to Guan Kai

The official website of the Shanxi Regulatory Bureau of the China Securities Regulatory Commission published a decision to issue a warning letter to Guan Kai: Upon investigation, our bureau found that the Shanxi Branch of Zhongcai Futures Co., Ltd. had the following violations: First, performance and expense management were not standardized, reflecting that the branch's internal controls were not sound, which violated Article 56 of the Measures for the Supervision and Administration of Futures Companies. Second, risk warnings to customers with large losses were inadequate, reflecting weaknesses in the branch's risk management, which violated Article 51 of the Measures for the Supervision and Administration of Futures Companies. As the person in charge of the branch, you failed to perform your duties effectively in accordance with Article 4 of the Measures for the Administration of the Qualifications of Directors, Supervisors, and Senior Managers of Futures Companies, and you bear management responsibility for the above issues. In accordance with Article 2, Paragraph 3 and Article 44, Item 1 of the Measures for the Administration of the Qualifications of Directors, Supervisors, and Senior Managers of Futures Companies, our bureau has decided to take the supervisory and administrative measure of issuing a warning letter to you and to record it in the securities and futures market integrity archive. If you are dissatisfied with this supervisory and administrative measure, you may apply to the China Securities Regulatory Commission for administrative reconsideration within 60 days from the date of receipt of this decision, or you may file a lawsuit with a people's court with jurisdiction within 6 months from the date of receipt of this decision. During the period of reconsideration and litigation, the above supervisory and administrative measure shall not be suspended from execution.