Brokerage、fund company, Futures companies welcome the special governance of the China Securities Regulatory Commission.
The China Securities Regulatory Commission stated on August 6 that itCargo baseSpecial governance work for financial management institutions.The Securities Regulatory Commission has specially formulated a sound securities futuresfundThe work plan for the governance of operating institutions will be organized to carry out industry self-examinations and on-site inspections to effectively improve and optimize the endogenous power of corporate governance, form a long-term mechanism, and lay a solid foundation for the company’s high-quality development.
Four aspects point to weak links in institutional governance
Good corporate governance is the foundation for ensuring the long-term and healthy development of the industry.In recent years, securities and futures fund management institutions have continued to implement comprehensive risk management and compliance requirements for all employees, the level of internal control and compliance has been continuously improved, and the establishment and improvement ofshareholderA modern corporate governance structure featuring effective operation of the meeting, the board of directors, the board of supervisors, and the management has achieved positive results in corporate governance.
“But overall, there is still room for further improvement in the governance level of securities and futures fund operating institutions. This special governance is aimed at the weak links in the current corporate governance of industry institutions,” said the China Securities Regulatory Commission, focusing on the following four aspects.
The first is to improve the system of rules and regulations. According to the “Securities Law”Stock investmentBased on the Fund Law, amend or formulate equity management regulations, internal control measures, public fund managers’ measures,ExecutivesMeasures and other rules and systems to build the “four beams and eight pillars” of institutional supervision.
The second is to continuously improve the administrative supervision system. Adhere to the combination of decentralization and regulation, and focus on the core issue of improving the effectiveness of institutional supervision, and insist on scientific supervision, classified supervision, professional supervision, and continuous supervision.
The third is to build an effective modern corporate governance system. Urge industry institutions to further strengthen the organic integration of party leadership and corporate governance, and strengthen shareholder penetration management; urge industry institutions to ensure that the “three meetings and one level” are placed and accountable; urge industry institutions to strictly implement comprehensive risk management and all-employee compliance requirements, Effectively improve the level of internal control compliance.
The fourth is to gradually improve the market restraint system. Improve the information disclosure system, urge industry institutions to ensure that information disclosure is true, accurate, and complete; explore the establishment of a practice quality evaluation system to improve practice transparency.
The China Securities Regulatory Commission stated that this is to implement the Central Economic Work Conference’s decision and deployment on improving the governance of financial institutions, to better fulfill the three tasks of serving the real economy, preventing and controlling financial risks, and deepening financial reforms, and further exerting the dual leadership of the party and corporate governance. Advantages, the China Securities Regulatory Commission has decided to start and improve the special governance work of securities and futures fund management institutions from now on.
To this end, the China Securities Regulatory Commission has formulated a special work plan for improving the governance of securities and futures fund operating institutions. It will organize industry self-examinations and on-site inspections to effectively improve and optimize the endogenous power of corporate governance, form a long-term mechanism, and lay a solid foundation for the company’s high-quality development. .
Securities companies need to have sound and effective corporate governance
In fact, as early as more than two months ago, the chairman of the China Securities Regulatory Commission, Yi Huiman, put forward requirements for the governance of securities companies at the Seventh General Meeting of the Securities Industry Association of China.He pointed out that good corporate governance is the micro-foundation for any company’s stability and long-term development, as an investmentBankOne of the important tasks of the company is to help companies improve their corporate governance structure. Therefore, they need to have sound and effective corporate governance to provide a guarantee for healthy and sustainable development. In recent years, the industry’s existing problems such as focusing on the market and neglecting risk control, focusing on projects and neglecting access, focusing on the immediate and long-term perspectives, as well as the exposure of some financial institutions’ risk cases, trace the root causes, insider control, “three meetings and one layer”, and failure of checks and balances Defects and deficiencies in corporate governance are important reasons. In this regard, industry organizations must attach great importance to it, give full play to their subjective initiative, earnestly put the focus of corporate governance on correcting business behaviors and effectively preventing risks, give full play to the dual advantages of party leadership and modern corporate governance, and continue to improve the corporate governance structure. , Let effective corporate governance become an important guarantee for the ever-lasting foundation. On the basis of the preliminary work, it is necessary to further optimize the shareholding structure, clarify the qualifications of shareholders, and standardize shareholder behavior, so that shareholders are not absent, in a good position, and not in an offside position. According to the principle of “substance is more important than form”, the supervisory authority will strengthen shareholder penetration management and strengthen the supervision of actual controllers. For all kinds of violations of laws and regulations, we adhere to the whole chain of accountability, find one and punish them severely, and will never tolerate them.
In early June, the China Securities Regulatory Commission announced the first batch of whitelists of securities companies. The first batch of whitelists of securities companies announced by the China Securities Regulatory Commission mainly focused on the compliance and risk control of securities companies. All are shortlisted. The whitelist is generated based on the evaluation of the effectiveness of corporate governance and compliance risk control. It is expected to play a positive incentive role for securities firms to strengthen corporate governance and implement the main responsibility of compliance and risk control, which will force the overall healthy development of the securities industry.
Centaline SecuritiesNon-silverAnalystZhang Yang believes that the continuous improvement of compliance and risk management systems and the enhancement of comprehensive risk management capabilities are the fundamental guarantee for securities companies to seize the rare historical opportunity to comprehensively deepen the reform of the capital market and achieve the high-quality development of the securities industry and securities companies. The whitelist system has It helps to consolidate the main responsibility of securities companies’ internal control and compliance, and continues to promote the high-quality development of the industry.
In addition to regulating the corporate governance of institutions, the China Securities Regulatory Commission has also put forward specific requirements for the investment banking business of securities firms. On July 9, the China Securities Regulatory Commission issued the “Guiding Opinions on Supervising Securities Companies to Engage in Investment Banking Business under the Registration System to Relocate and Responsible” (hereinafter referred to as the “Guiding Opinions”). The problem of poor practice quality and lax control of securities companies, and the overall consideration of the long-term development of the industry, insists on seeking progress while maintaining stability, optimizing the development ecology of investment banking business, and promoting securities companies to continuously improve the quality of practice, providing a solid guarantee for the reform of the registration system.
A series of regulatory measures are aimed at enhancing institutions’ awe of regulatory rules and principles, allowing institutions to actively increase their awareness of compliance and risk control, comprehensively deepening capital market reforms, and better serving high-quality economic development.
(Source: Brokerage China)
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