According to the news on February 10, the official website of Shenzhen Securities Regulatory Bureau announced aboutCitic SecuritiesThe decision to take corrective measures involves three important business lines: private equity fund trusteeship business, investment bank sponsor and asset management.
Specifically, there are three main aspects of Citic Securities violations:First, the internal control of private equity fund trusteeship business is not perfect, and individual projects are not careful in performing their duties. Including the lack of business access control, the lack of strict implementation of the company's standards and approval procedures for business access for some projects, and insufficient attention to and verification of manager access materials. There are weak links in the business process of investment supervision, some products do not adjust the supervision contents set in the system in time, and some investment supervision and audits fail to perform the review procedures as stipulated by the company. the internal control process for supervising and restricting the performance of investment supervision posts is not perfect; there are deficiencies in the review of information disclosure and delays in the review of quarterly reports of individual products. The business isolation is not in place, and the trusteeship department and the subsidiaries engaged in the fund service outsourcing business do not strictly implement the business isolation requirements.
Second, the practice quality of individual IPO sponsor projects is not high, there are some problems, such as insufficient and inaccurate disclosure of issuer cash transactions, insufficient verification of issuer income recognition basis, subsidy recyclability and so on.
Third, individual asset management products of the company fail to provide statements to clients in accordance with the second paragraph of Article 29 of the detailed rules for the implementation of targeted Asset Management Business of Securities companies (CSRC Bulletin (2012) No. 30), explain the allocation status of the assets entrusted by the client, changes in net value, transaction records and so on during the reporting period.
It is worth noting that Citic Securities, known as the "number one in the securities industry", is once again on the list of fines for regulators because of internal control and compliance issues.
On February 10, the Shenzhen Securities Regulatory Bureau issued a decision to order corrective measures against CITIC Securities Co., Ltd. The above ticket is clear.Citic SecuritiesThere are some situations, such as the internal control of private equity fund trusteeship business is not perfect, the practice quality of individual IPO sponsor projects is not high, and individual asset management products do not provide statements to customers at the time and in the way agreed in the contract.
From January 21 to February 5, Citic Securities fell for 12 consecutive days, rarely seen in history, with a cumulative decline of 15%. At today's close, Citic Securities fell 0.43% to 27.87 yuan per share, with a total market capitalization of 360.3 billion yuan. And Citic Securities is also a rare hit list.
