中国证监会发布实施《证券公司分类评价规定》

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Securities Company Classification Supervision 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 regulation has been changed from "Securities Company Classification Supervision Regulations" to "Securities Company Classification Evaluation Regulations" to align with the focus on classification evaluation [2]. - The revised evaluation framework emphasizes "risk management capability, ongoing compliance status, business development, and functional performance," highlighting the importance of these areas in the evaluation process [2]. Group 2: Focus on High-Quality Development - The modifications aim to guide securities companies towards high-quality development by enhancing business development scoring indicators and encouraging better service capabilities in areas like long-term capital introduction and wealth management [2]. - There is an emphasis on encouraging small and medium-sized institutions to explore differentiated development paths based on their unique strengths [2]. Group 3: Enhanced Accountability and Penalties - The revisions strengthen the punitive measures against severe misconduct, maintaining a deterrent effect on major malicious cases by adjusting the scope for direct downgrading of classification ratings [2]. - The penalties will be adjusted to ensure proportionality, with increased point deductions for disciplinary actions and optimized administrative penalty scoring [2]. Group 4: Implementation and Future Steps - The CSRC will focus on the implementation of the revised regulations and continue to improve the industry classification regulatory system to better serve the real economy and promote high-quality development in the capital market [2].