提升证券行业全面风险管理能力 中证协修订一项规范、发布一项指引

Core Viewpoint - The China Securities Association (CSA) has released revised guidelines for comprehensive risk management in the securities industry to enhance risk management capabilities and core competitiveness, in line with national financial policies and regulatory requirements [1][3]. Group 1: Comprehensive Risk Management Guidelines - The revised "Comprehensive Risk Management Norms" aims to improve the risk management framework established since its first release in 2014, addressing shortcomings in risk culture, organizational structure, and data governance among securities firms [2][3]. - The revision emphasizes a proactive and preventive approach to risk management, advocating for a "penetrating and panoramic" risk control system that includes vertical integration of subsidiary risk management and monitoring mechanisms for cross-border and off-market derivatives [3][4]. Group 2: Market Risk Management Guidelines - The newly issued "Market Risk Management Guidelines" aim to establish a comprehensive, dynamic, and operationally effective market risk management framework, recognizing the increasing complexity and urgency of market risk management in the securities industry [3][4]. - Key components of the guidelines include a clear organizational structure, a full-process management system for market risk, a multi-tiered limit structure, and stringent data quality controls to ensure effective risk management [4]. Group 3: Future Directions - The CSA plans to continue implementing national policies and guiding the securities industry towards a modern risk management system that emphasizes comprehensive coverage, data transparency, and accountability, ultimately contributing to market stability and high-quality industry development [4].