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The “white list” of securities companies is updated: 5 new companies have entered and 4 have been transferred out

The “white list” of securities companies is updated: 5 new companies have entered and 4 have been transferred out

According to the official website of the China Securities Regulatory Commission, a few days ago, the China Securities Regulatory Commission released the “white list” of securities companies in June 2023, and a total of 31 securities companies entered the “white list”. Compared with the previous “white list” in June 2022, 5 new securities firms have been added to the “white list” this time, and 4 securities firms including Northeast Securities, CDB Securities, Ping An Securities, and China Merchants Securities have been transferred.

In June 2023, the “white list” of securities companies.Source: China Securities Regulatory Commission

According to reports, the China Securities Regulatory Commission established a “white list” system for securities companies in May 2021, which aims to consolidate the responsibilities of securities companies for internal control and compliance, improve the effectiveness of supervision, and promote the high-quality development of the securities industry. Specifically, the China Securities Regulatory Commission includes securities companies with effective corporate governance and compliance and risk control into the “white list”, and provides support from three aspects: first, reduce if possible, and cancel the “white list” of securities companies included in the “white list”. The issuance of perpetual subordinated bonds and the provision of guarantee commitments for bond issuance by overseas subsidiaries, and the requirements for regulatory opinions for overseas subsidiaries to increase capital or provide financing; , the issuance of convertible bonds, short-term financing bills, financial bonds, etc., no longer solicit opinions from dispatched agencies and the Shanghai and Shenzhen Stock Exchanges in accordance with the previous procedures, and directly issue regulatory opinions after confirming that they meet the statutory conditions; Produced in the “white list”, innovative pilot business applications from companies not included in the “white list” will not be accepted.

According to industry insiders, in accordance with the principles of law and prudence, securities companies included in the “white list” continue to apply for innovative business regulatory opinions in accordance with existing rules and procedures. Since the launch of the “white list” system, through the dynamic adjustment mechanism of “entry and exit”, a group of companies with standardized governance and operation and a high level of compliance and risk control have been included, and companies that have been administratively punished or subject to major supervision have been transferred out in a timely manner. Companies with measures have formed effective positive incentives and reputation constraints on the industry.

“In the next step, the China Securities Regulatory Commission will focus on the requirements of supervising the main business and achieving high-quality development, continue to summarize and evaluate the implementation effect, and highlight the precise and efficient support of technological innovation by securities companies, help the construction of a modern industrial system, and better serve residents’ diversified financial services. demand and other services to serve the function of the real economy.” The China Securities Regulatory Commission stated that in recent years, the China Securities Regulatory Commission has continued to optimize the evaluation criteria based on the daily supervision situation and the implementation effect of the “white list”, focusing on clear equity ownership, stable operations, and compliance. Internal control is effective, risk control indicators continue to meet standards, there is no horizontal competition, and no major regulatory measures or penalties have been taken.

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