Nan Fang Du Shi Bao·2025-09-30 11:53Core Viewpoint - The Guangdong Securities Regulatory Bureau has imposed administrative regulatory measures on Guangdong Kede Investment Consulting Co., Ltd. and other securities firms due to multiple violations, including improper shareholder conduct and operational interference, leading to a six-month suspension of new client acquisition for Kede Investment [2][3]. Group 1: Regulatory Actions - Kede Investment's controlling shareholder has been found to engage in shareholding proxy and improper interference in the company's normal operations, resulting in various violations during business operations [3][4]. - The regulatory measures include a directive for Kede Investment to rectify the identified violations, clear illegal business activities, and a six-month suspension of new client acquisition, during which no new clients can be signed under any guise, including "investor education" [5][6]. Group 2: Violations by Other Firms - Other firms, including Guangfa Securities and Yingda Securities Dongguan Dongcheng Securities Business Department, have also faced regulatory actions. Guangfa Securities was found to have analysts spreading false information in WeChat groups [5][6]. - Yingda Securities Dongguan Dongcheng Securities Business Department was cited for inadequate monitoring of employee investment behaviors, insufficient compliance training for brokers, and poor management of employees' new media accounts [5][6]. Group 3: Individual Accountability - Liu He, the former head of Yingda Securities Dongguan Dongcheng Securities Business Department, is held responsible for the management issues and has been subjected to regulatory talks [6]. - Liu Biao, during his tenure at Yingda Securities, disseminated inappropriate market information through social media, leading to his designation as an unsuitable candidate for any client development roles for two years [6].