Zhejiang Securities Regulatory Bureau took measures to issue a warning letter to Federal Reserve Securities.

The Zhejiang Securities Regulatory Bureau issued a decision to issue a warning letter to United Securities Co., Ltd. After investigation, it was found that the Shaoxing Yumin Road Securities Business Department of United Securities did not timely report significant events affecting the operation and management of its branch to regulatory authorities, and the company's compliance management of its branches was not in place, violating Articles 3 and 4 of the "Regulatory Measures for Compliance Management of Securities Companies and Securities Investment Fund Management Companies." According to Article 32, Paragraph 1 of the "Regulatory Measures for Compliance Management of Securities Companies and Securities Investment Fund Management Companies," the Zhejiang Securities Regulatory Bureau decided to issue a warning letter to United Securities as an administrative supervisory measure and record it in the integrity file of the securities and futures market.