Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Securities Company Classification Regulations" to enhance the regulatory framework and support high-quality development in the capital market, effective from August 22, 2025 [1][2]. Group 1: Regulatory Changes - The title of the regulations has been changed from "Securities Company Classification Regulations" to "Securities Company Classification Evaluation Regulations" to align with the focus on classification evaluation [2]. - The evaluation framework has been adjusted to emphasize "risk management capability, ongoing compliance status, business development, and functional performance," highlighting the importance of these areas [2]. - The modifications aim to guide securities companies towards high-quality development by improving business development scoring indicators and encouraging differentiated development paths for smaller institutions [2]. Group 2: Enforcement and Compliance - The revised regulations strengthen punitive measures against severe violations, maintaining a deterrent effect for major misconduct [2]. - The principle of "proportional punishment" has been introduced, increasing the penalty points for disciplinary actions and optimizing the scoring system for administrative penalties [2]. - Special handling rules for companies that are suspected of violations but actively seek administrative enforcement have been clarified, allowing for reduced penalty points under certain conditions [2]. Group 3: Implementation and Future Directions - The CSRC will focus on the implementation of the revised regulations and continue to improve the industry classification regulatory system [2]. - The goal is to build first-class investment banks and institutions that better serve the real economy and promote high-quality development in the capital market [2].
中国证监会发布关于修改《证券公司分类监管规定》的决定
Xin Hua Wang·2025-08-22 13:54