Core Viewpoint - The China Securities Association (CSRC) has updated the classification list of sponsor representatives, with the D category (suspended business) now including 15 individuals, a decrease of one from the initial public list. The update adds eight new representatives from six securities firms, highlighting ongoing regulatory scrutiny in the industry [1][2]. Group 1: Regulatory Actions - The D category list includes representatives who have faced administrative penalties from the CSRC within the last three years, as well as those deemed unsuitable for related business activities [2][3]. - The newly added representatives have been involved in significant financial fraud cases, with some projects being withdrawn but still resulting in penalties [3]. - The CSRC has emphasized the importance of holding intermediary institutions accountable for their responsibilities, with a focus on enhancing the quality of their operations [7]. Group 2: Industry Impact - The updated classification list aims to clarify the responsibilities and risks for sponsor representatives, promoting diligence and self-regulation within the industry [6]. - As of now, the CSRC has publicly listed 8,552 sponsor representatives, a reduction of 168 from the previous year, indicating a tightening of compliance within the sector [6]. - Approximately 300 sponsor representatives have been identified as having violated self-regulatory rules or regulatory provisions, reflecting ongoing challenges in maintaining industry standards [6][7].