Cinda Securities(SH:601059) Jing Ji Wang·2026-01-12 02:45Core Viewpoint - Recent penalties have been imposed on several securities firms, including Xinda Securities, Jianghai Securities, and Guoxin Securities, highlighting issues related to compliance and risk management in the industry [1][5]. Group 1: Penalties and Compliance Issues - Xinda Securities' Wenzhou Oujing Road branch received a warning for inadequate control over margin trading, allowing clients to engage in prohibited activities [2]. - Jianghai Securities' Harbin Hongjun Street branch was penalized for insufficient execution of client follow-up procedures and improper management of employees, violating compliance regulations [5]. - Guoxin Securities' Nanchang Green Road branch faced penalties for providing investment advisory services without proper registration, indicating poor internal controls [6]. Group 2: Regulatory Environment - The China Securities Association issued guidelines to prevent clients from engaging in "circumventing margin trading" practices, emphasizing the need for strict monitoring and control measures [3]. - Since 2025, multiple securities firms have revised their margin trading contracts to prevent clients from executing prohibited transactions [4]. - Regulatory authorities have adopted a stringent approach towards the securities industry, issuing over 300 penalties affecting nearly 80 firms in 2025, with brokerage services being a major area of concern [7].