Shenzhen Securities Regulatory Bureau Issues Warning to China Merchants Securities Co. Ltd
The Shenzhen Securities Regulatory Bureau has issued a warning letter to the Securities Business Department of China Merchants Securities Co., Ltd. located on Nanyou Avenue in Shenzhen Nanshan. The bureau found that the sales department had several issues, including employees privately soliciting customers and inadequate handling of investor complaints and disputes.
The investigation revealed that some employees had been privately engaging others to solicit customers from 2021 to 2022. Additionally, there were shortcomings in addressing investor complaints and disputes in a timely manner. These issues showed a lack of management of employees’ professional behavior and compliance management in marketing, customer service, and complaint handling.
In response to these violations of relevant regulations, the Shenzhen Securities Regulatory Bureau has taken administrative supervision measures by issuing a warning letter to the business department. This decision is in accordance with Article 32, paragraph 1, of the “Compliance Management Measures” and Article 43 of the “Brokerage Business Measures.”
This development serves as a reminder of the importance of maintaining professionalism and compliance in the securities industry. Companies must prioritize the proper management of employee behavior and adhere to regulations in all aspects of their business operations.