券商分类评价新规出炉，突出促进证券公司功能发挥

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the classification evaluation regulations for securities companies to promote high-quality development and enhance the functionality of these firms [1][2]. Group 1: Regulatory Changes - The new regulations emphasize the need for securities companies to better fulfill their roles and enhance their professional capabilities [2][3]. - The evaluation framework has been adjusted to focus on risk management, compliance status, business development, and functional performance [2][3]. - A new special evaluation for "functional performance" will be organized by the Securities Association, with results incorporated into the classification evaluation [3]. Group 2: Support for Small and Medium Institutions - The regulations support differentiated development and specialized operations for small and medium-sized institutions [4][5]. - The new rules increase the scoring for net asset return, encouraging securities companies to adopt a capital-intensive development approach and improve operational efficiency [5]. - The scoring coverage for major business income has been expanded from the top 20 to the top 30 firms, allowing smaller institutions to explore differentiated development paths [5]. Group 3: Strengthening Punitive Measures - The new regulations enhance comprehensive penalties for serious violations, aligning with the "strike hard against major offenders" directive [6][7]. - Companies with significant violations may face direct downgrades in their evaluation results, with a focus on substantial assessments [7]. - The regulations aim to effectively utilize various regulatory measures to combat illegal activities in the securities market and protect the rights of small investors [7].