The Shenzhen Securities Regulatory Bureau has taken action against China Merchants Securities Co., Ltd. Shenzhen Nanshan Nanyou Avenue Securities Business Department by issuing a warning letter. The decision was made after an investigation revealed two major issues within the department.
Firstly, it was discovered that some employees had privately entrusted others to solicit customers between 2021 and 2022. Additionally, the department had failed to handle investor complaints and disputes in a timely and proper manner. These issues were found to reflect insufficient management of employee behavior and compliance in marketing, customer service, and complaint handling.
The Shenzhen Securities Regulatory Bureau cited violations of the “Compliance Management Measures of Securities Companies and Securities Investment Fund Management Companies” and the “Securities Brokerage Business Management Measures.” As a result, administrative supervision measures have been taken, and a warning letter has been issued to the business department in question.
The information was reported by the Securities Times and serves as a reminder for all securities companies to adhere to compliance regulations and ensure proper business conduct. It is crucial for financial institutions to prioritize the handling of customer complaints and maintain the highest standards of professional behavior.
It is important to note that the dissemination of this information is for awareness and does not constitute investment advice. Readers are advised to proceed with caution and at their own risk.