Lates News

Several securities firms were named by regulators for violations in investment banking business. According to recent disclosures by the Shanghai Stock Exchange, CITIC Securities, Guotou Securities, and several insurance agents were warned by regulators for violating the regulations on the classification audit mechanism for refinancing of listed companies. Meanwhile, Huafu Securities and Minmetals Securities were also issued written warnings by the Shanghai and Shenzhen stock exchanges respectively for multiple violations in their investment banking business practices. According to incomplete statistics from reporters, as of May 18th, over 30 securities firms have been named by regulators for violating investment banking regulations this year. From the perspective of punishment for violations, regulators adhere to the principle of "punishing severely and prohibiting strictly" for intermediary institutions, while also strengthening supervision in areas such as fees charged by intermediary institutions and internal controls in investment banking. (First Financial News)