Title: Shenzhen Securities Regulatory Bureau Takes Action Against Qianhai Futures Co., Ltd.
The Shenzhen Securities Regulatory Bureau has announced the suspension of new account openings for futures brokerage business and futures trading consulting business against Qianhai Futures Co., Ltd. The decision comes after the company was found to be in violation of various regulations.
According to the official document, Qianhai Futures Co., Ltd. was found to have failed in several areas including not strictly separating business and personnel from related parties, failing to implement centralized and unified management of branches, and not establishing and improving the company’s risk management and internal control systems and processes. The company was also found to have submitted inspection materials and risk supervision reports that were not truthful, accurate, and complete.
In response to these violations, the Shenzhen Securities Regulatory Bureau has decided to take supervisory measures against Qianhai Futures Co., Ltd. The company’s new account openings for futures brokerage business and futures trading consulting business will be suspended for a period of six months, starting from January 9, 2024, to July 8, 2024.
During this suspension period, the company is required to comprehensively rectify the violations and submit a written rectification report to the Shenzhen Securities Regulatory Bureau. Once the inspection and acceptance process is passed, and the bureau lifts the suspension, Qianhai Futures Co., Ltd. will be able to restart new account openings for both business aspects.
The decision to take supervisory measures against Qianhai Futures Co., Ltd. reflects the bureau’s commitment to ensuring that companies comply with regulations and operate in a manner that protects the rights and interests of customers. The Shenzhen Securities Regulatory Bureau’s actions aim to promote sustainable and stable operations within the futures industry.