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Sou Hu Cai Jing·2025-08-24 01:16

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Regulations on the Classification Supervision of Securities Companies," which will take effect on August 22, 2025, changing the title to "Regulations on the Classification Evaluation of Securities Companies" to align with the focus on classification evaluation [1] Group 1: Overall Approach - The modification emphasizes a goal-oriented approach, aligning with risk prevention and high-quality development requirements, correcting industry positioning, enhancing governance, and reinforcing the regulatory "guiding role" [2] - The overall stability of the existing classification evaluation system is maintained, with the modifications focusing on partial improvements and moderate optimizations without major adjustments to the existing evaluation framework [2] Group 2: Key Modifications - The evaluation framework has been adjusted to highlight the functions of securities companies, focusing on "risk management capability, ongoing compliance status, business development, and functional performance" [4] - The modifications guide securities companies to focus on high-quality development by improving business development scoring indicators and encouraging better professional service capabilities in areas like long-term capital introduction and wealth management [4] - A "strike hard against major offenses" approach is emphasized, enhancing comprehensive penalties by refining the scope for direct classification rating reductions and increasing the penalty scores for serious violations [4] - The revisions summarize previous classification evaluation experiences and clarify rules for handling special issues, such as reducing penalty scores for companies that actively seek administrative enforcement commitments and undertake advance compensation [4] Group 3: Feedback and Consensus - The regulations were open for public consultation starting June 20, with general agreement on the modification approach and content from various stakeholders, and the CSRC has carefully considered feedback to refine the regulations [4]