中证协最新调研

Core Viewpoint - The China Securities Association (CSA) is conducting research on the regulatory system for bond market intermediaries to understand the current situation, industry demands, and identify issues and shortcomings [1][2] Group 1: Research Objectives - The CSA's research aims to evaluate the current regulatory framework for bond market intermediaries, focusing on the assessment from brokerage firms regarding the existing system [1] - The research will analyze challenges and issues within the regulatory framework from three dimensions: completeness and coordination, transparency and operability, and scientific validity [1] Group 2: Regulatory Enhancements - The CSA is seeking insights from brokerage firms on foreign regulatory practices for bond market intermediaries, including underwriting, ongoing management, ratings, auditing, and legal services [1] - The CSA's research emphasizes the need for efficiency in regulatory hierarchy, comprehensive coverage of intermediary business processes, and the alignment of regulatory tools with legislative goals [1] Group 3: Industry Impact - The research is deemed significant for improving the regulatory framework for bond market intermediaries, promoting a healthy and stable development of the bond market towards standardization and professionalism [2] - Regulatory scrutiny has intensified on the performance of intermediaries in the bond market, with increased frequency and intensity of inspections on those with high default rates and low quality evaluations [2]