刚刚，证监会最新发布！证券公司分类评价新规来了

Core Viewpoint - The revised "Securities Company Classification Evaluation Regulations" aims to enhance the functionality of securities firms, promote high-quality development, and protect the rights of small and medium investors [2][4][9]. Group 1: Functionality and Quality Development - The new regulations emphasize the importance of securities companies in serving the real economy and national strategies, with a focus on improving professional capabilities [4][5]. - A new evaluation framework has been established, focusing on risk management, compliance, business development, and functionality [4][6]. - The regulations encourage differentiated development among small and medium-sized institutions, allowing them to explore unique business paths [6][7]. Group 2: Evaluation and Incentives - The revised regulations optimize the scoring system by removing the revenue-based scoring while increasing the emphasis on return on net assets, thus guiding firms towards efficient operations [6][7]. - Special indicators have been added to encourage securities companies to attract long-term funds and enhance investor services [7][8]. Group 3: Regulatory Measures and Investor Protection - The regulations strengthen punitive measures against serious violations, expanding the scope for downgrading ratings in cases of significant misconduct [9][10]. - There is a focus on using various regulatory tools to combat illegal activities in the securities market, thereby protecting the rights of small investors [10][11]. - The regulations also encourage firms to proactively compensate investors affected by violations, reducing the cost and time of investor rights protection [10][11]. Group 4: Overall Regulatory Framework - The classification evaluation system serves as a foundational regulatory framework, guiding the development of the securities industry and enhancing compliance and risk management [13][14]. - The revisions reflect a need for updates based on recent policy changes and industry practices, ensuring that the regulations remain relevant and effective [13][14].