江海证券、国新证券也被罚 1月9日，黑龙江证监局披露两则罚单，对江海证券哈尔滨红军街证券营业部及母公司江海证券采取出具 警示函措施。 近日，各地证监局陆续披露罚单，江海证券、信达证券、国新证券等券商成为2026年第一批领罚的券 商。其中，信达证券一营业部因两融绕标的管控力度不足被罚。 两融绕标管控不严，信达证券领罚 1月9日，浙江证监局披露三则罚单，对信达证券温州瓯江路证券营业部采取出具警示函的行政监管措 施，该营业部负责人以及员工均被出具警示函，剑指两融绕标的管控问题。 具体来看，信达证券温州瓯江路证券营业部存在三大问题，一是对两融绕标管控措施力度不足，客户存 在两融绕标操作；二是未对客户异常交易行为进行有效监控，风险管理不到位；三是个别员工展业行为 未留痕，营业部对员工管理不到位、合规监控不足。 浙江证监局认为，这反映出该营业部风险管理不到位、合规内控不完善，要求该营业部深刻吸取教训， 强化合规管理与风险管控，加强人员管理，切实提升内控水平。同时，该营业部的负责人王某某、员工 黄某某一并领罚，被出具警示函。 所谓"两融绕标套现"是指在两融业务开展过程中，部分投资者利用融资融券交易，刻意规避融资融券标 的证 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 近日，各地证监局陆续披露罚单，江海证券、信达证券、国新证券等券商成为2026年第一批领罚的券 商。其中，信达证券一营业部因两融绕标的管控力度不足被罚。 两融绕标管控不严，信达证券领罚 1月9日，浙江证监局披露三则罚单，对信达证券温州瓯江路证券营业部采取出具警示函的行政监管措 施，该营业部负责人以及员工均被出具警示函，剑指两融绕标的管控问题。 罚单显示，经查，该营业部个别证券从业人员在2018年4月至2019年10月期间未在中国证券业协会注册 登记为证券投资顾问的情况下向客户提供证券投资顾问服务、在2018年4月至2022年12月期间私下接受 客户委托从事证券基金投资，分别违反了《证券投资顾问业务暂行规定》《证券经纪人管理暂行规定》 等规定。江西证监局认为，这反映了该营业部合规管理不到位、内部控制不完善，因此对该营业部采取 出具警示函的行政监管措施，并记入证券期货市场诚信档案。 近年来，监管部门对证券行业秉持"长牙带刺、有棱有角"的监管态度，以"零容忍"姿态打击违法违规行 为，彰显了守护资本市场根基的坚定决心。易董数据显示，2025年监管 ...

Core 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]. Summary by Sections Penalties on Xinda Securities - Xinda Securities' Wenzhou Oujiang Road branch received a warning from the Zhejiang Securities Regulatory Bureau due to inadequate control over margin trading and securities lending (two-in-one) operations, leading to client circumvention of regulations [2]. - The branch was found to have three main issues: insufficient control measures for two-in-one operations, ineffective monitoring of abnormal trading behaviors, and inadequate employee management and compliance oversight [2]. Regulatory Measures - The China Securities Association released guidelines to manage client trading behaviors in margin trading, emphasizing front-end control, risk monitoring, and post-event management to prevent circumvention of regulations [3]. - Since 2025, multiple securities firms have improved their margin trading contract rules to prevent investors from engaging in circumvention operations [4]. Penalties on Jianghai and Guoxin Securities - Jianghai Securities' Harbin Hongjun Street branch was penalized for failing to execute client follow-up procedures adequately and for incomplete documentation, violating compliance management regulations [5]. - Jianghai Securities also faced penalties for issues related to third-party involvement in client solicitation and inadequate management of employees, including hiring unqualified personnel [5]. - Guoxin Securities' Nanchang Green Road branch was penalized for providing investment advisory services without proper registration and for accepting client commissions without compliance, reflecting poor internal controls [6]. Regulatory Environment - The regulatory authorities have adopted a strict stance against violations in the securities industry, issuing over 300 penalties in 2025, affecting nearly 80 firms, with brokerage business being a major area of concern [6].