China's ** newspaper Chenxi has another listed securities company issued a warning letter by regulators! On March 1, an administrative regulatory measure announced on the official website of the China Securities Regulatory Commission showed that the Anhui Securities Regulatory Bureau issued a warning letter to Guoyuan**. 
The Anhui Securities Regulatory Bureau pointed out that Guoyuan has many problems such as insufficient management of honest practice and imperfect business management system for publishing research reports. The Anhui Securities Regulatory Bureau requires Guoyuan ** to conduct internal accountability of relevant responsible personnel in accordance with the internal accountability system, and submit a written rectification and accountability report. It involves four major issuesGuoyuan** was issued a warning letterSpecifically, Guoyuan ** was named by the Anhui Securities Regulatory Bureau, mainly involving the following four issues:First, there are deficiencies in the management of integrity practice, and some personnel in some positions have integrity risks, and individual integrity risk clues have not been reported on schedule; second, failure to complete the equity liquidation of individual direct investment projects within the commitment period; Third, the business management system for the issuance of ** research reports is not perfect, the production of individual research reports is not prudent enough, the quality control audit is not strict enough, and the internal control process is flawed; Fourth, failure to make emergency reports on information system failures in a timely manner. Based on the above questions,The Anhui Securities Regulatory Bureau decided to take administrative supervision measures to issue a warning letter to Guoyuan, and recorded it in the market integrity file. The Anhui Securities Regulatory Bureau requires that Guoyuan should carefully find and rectify problems, strengthen the study of relevant laws and regulations, strengthen the internal control and compliance management of various businesses, conduct internal accountability of relevant responsible personnel in accordance with the internal accountability system, and submit a written rectification and accountability report to the bureau to prevent similar incidents from happening again. It is understood that Guoyuan ** has received similar fines before. In October 2021, the Anhui Securities Regulatory Bureau issued a warning letter to Guoyuan**, pointing out that the company's release of relevant industry research reports has problems such as unclear data labeling, insufficient data selection, insufficient objectivity in research report analysis, and inadequate quality control and compliance review. In this regard, Guoyuan ** stated in the regular report that the company has investigated the responsibility of the relevant personnel with management responsibilities, research business compliance management, quality control personnel and researchers, and reformulated the "Guidelines for the Management of Research Report Information of Guoyuan ** Research Institute", requiring the research report issued by the researcher to be objective and true, based on reliable facts and data, and the authority and legitimacy of the data obtained from the relevant database should be fully considered. In June 2022, the Anhui Securities Regulatory Bureau once again issued a warning letter to Guoyuan**, pointing out that the company has the following problems: First, the company's mobile client trading software has not been fully tested before the system is upgraded and changed. Second, the mobile client trading software malfunctioned on June 13, 2022, and was not reported to the Anhui Securities Regulatory Bureau in a timely manner. Third, the information security emergency response plan is incomplete. In response to the above problems, Guoyuan ** said that it instructed the information technology department to strictly control the software acceptance test process. Further implement reports on network security incidents and early warning incidents, improve reporting paths, and clarify the time limit for reporting. Emphasize the importance of information security to key information technology personnel and all personnel, earnestly perform their duties, and in the event of a network security incident, they should promptly perform internal and external reporting procedures in accordance with the company's information security management system and emergency response mechanism. As of March 1, Guoyuan** stock price was 702 yuan, with a market value of 30.6 billion yuan. 
The "second season" of the research report fine appearedLooking back on 2023, the regulatory authorities issued the "Notice on the Release of the "Double Random" On-site Inspection of the Research Report Business to the securities firms in the industry. Subsequently, a number of securities firms and related parties were ordered to make corrections, warning letters and other administrative supervision measures, and were required to correct violations, improve the quality of research business, and strengthen the management of research reports. The regulatory authorities said that they will continue to strengthen the supervision and law enforcement of research and reporting business in accordance with the "zero tolerance" regulatory policy. Since the beginning of the year, local securities regulatory bureaus have successively issued fines to securities firms to further strengthen management. For example, the Anhui Securities Regulatory Bureau continued to "shoot". On February 18, Huaan** in the jurisdiction was also ordered to make corrections due to issues such as imprudent production of research reports and insufficient due diligence of investment banking business. Among them, Hua'an ** was named by the Anhui Securities Regulatory Bureau for the imprudent production of research reports involving "Zuojiang Technology" and other research reports. Prior to this, the Shenzhen Stock Exchange had notified a warning letter to Huaan**. After investigation, the analysis conclusions of the relevant research reports released by Huaan ** were not sufficient, the conclusions were not prudent, the investment risks were not fully revealed, and the company did not strictly check the quality of the research reports. In addition, in January this year, the Hunan Securities Regulatory Bureau and the director of the research institute respectively ordered corrections and issued warning letters of administrative supervision measures, which also involved problems in the business process of issuing ** research reports. Editor: Captain Review: Xu Wen
The countdown to the two sessions, listen to the mood of the reporters of the China ** newspaper running meeting