中信证券为什么要赔富安娜2928万

Core Viewpoint - The court ruled that CITIC Securities must compensate its client, Fuanna, for investment losses, marking a significant precedent in financial disputes involving listed companies [2][34]. Group 1: Case Background - CITIC Securities customized a directional asset management plan for Fuanna starting in April 2018, with Fuanna investing approximately 100 million yuan annually in a rolling investment scheme [34][35]. - The third phase of investment, amounting to 100 million yuan, was directed into a trust that ultimately defaulted due to the bankruptcy of the underlying asset's developer, Land Resources [3][34]. Group 2: Legal Findings - The court analyzed the asset management industry's practices, including "single contract, rolling investment" and the applicability of suitability obligations for professional investors [35][40]. - The court determined that CITIC Securities failed to fulfill its suitability obligations before the third phase of investment, which involved higher risk assets compared to previous phases [37][59]. Group 3: Professional Investor Status - CITIC Securities argued that Fuanna, as a professional investor, did not require the same level of risk disclosure as ordinary investors [41][42]. - The court clarified that being a professional investor does not exempt one from the obligation to understand their investment preferences and risk tolerance [45][56]. Group 4: Risk Disclosure Obligations - The court emphasized that financial institutions must provide specific and substantial risk disclosures rather than generic warnings [55][56]. - Despite Fuanna's acknowledgment of risks in a risk disclosure document, the court found that the disclosures were too vague to be considered adequate [55][56]. Group 5: Compensation and Loss Assessment - The court ruled that CITIC Securities must compensate Fuanna for 50% of the unrecovered principal amounting to approximately 29.29 million yuan [30][62]. - The court noted that even without the completion of asset liquidation, losses could still be recognized based on the circumstances surrounding the investment [60][61].