The China Securities Association has drafted the "Guidelines for the Consolidated Management of Securities Companies" consultation draft to enhance the group risk management capabilities of csi all share investment banking &, maintain stable running, and prevent financial risks. The purpose is to standardize consolidated management and improve the risk management level in the industry. The "Guidelines" specify the general principles, scope, elements, and management requirements of consolidated management, covering key areas such as corporate governance, business collaboration and internal trade management, risk management, and capital management. At the same time, different transitional periods for consolidated management have been set for different types of csi all share investment banking & to ensure a smooth transition to stricter regulatory requirements.