因债券业务违规，这家券商被监管“点名”

Core Viewpoint - Sichuan Securities has been warned by the Sichuan Securities Regulatory Bureau for violations in its bond trading business, highlighting ongoing regulatory scrutiny in the industry [1][2]. Group 1: Regulatory Actions - Sichuan Securities received a warning letter due to issues such as inadequate internal system construction, insufficient management of personnel, and non-compliance in business reviews [4][6]. - This is not the first time Sichuan Securities has faced penalties related to its bond business, with multiple warnings issued in recent years for various compliance failures [2][7]. Group 2: Industry Trends - The regulatory environment is tightening, with a call for securities firms to prioritize compliance and internal controls as core competencies rather than mere cost burdens [2][10]. - Future trends in bond trading regulation include normalized penetrating supervision, increased penalties for repeated violations, and a widening gap between well-managed leading firms and those with inadequate controls [10]. Group 3: Company Performance - Sichuan Securities reported a decline in both revenue and net profit for 2024, with revenue of 296 million yuan, down 16.18%, and net profit of 15.04 million yuan, down 38.64% year-on-year [9]. - The case of Sichuan Securities reflects a common industry issue where bond businesses prioritize performance over compliance, leading to systemic weaknesses [9].