中国基金报·2025-11-07 14:54Core Viewpoint - CITIC Securities and several other brokerages have announced plans to abolish their supervisory boards, marking a significant shift in corporate governance structure within the industry [2][4]. Group 1: Corporate Governance Changes - CITIC Securities has approved a proposal to eliminate its supervisory board, which will be submitted for shareholder approval [2][4]. - The supervisory functions will be taken over by the audit committee of the board, which will now also perform duties traditionally held by the supervisory board, such as financial inspections and oversight of directors and senior management [5][6]. - Other brokerages, including Xinda Securities and Dongwu Securities, are also moving forward with similar plans, with meetings scheduled to discuss these changes [4]. Group 2: Regulatory Context - The China Securities Regulatory Commission (CSRC) has provided a one-year transition period for brokerages to adapt to the new governance structure, which requires the establishment of audit committees within boards by January 1, 2026 [7][9]. - As of the end of October, nearly 20 brokerages, including major firms like China Galaxy Securities and CICC, have disclosed plans to amend their articles of association to eliminate supervisory boards [9]. Group 3: Industry Implications - The shift to a governance model without supervisory boards is seen as a response to the demands of the digital age, where traditional oversight methods are deemed insufficient for effective risk management [9]. - The new governance structure is expected to enhance the optimization of supervisory functions, with independent directors leading audit committees to provide more specialized financial oversight [9].