Core Viewpoint - The trust industry is facing ongoing stringent regulatory scrutiny, highlighted by a significant penalty imposed on Zhongcheng Trust, amounting to 6.6 million yuan, marking the largest public fine of the year [1] Group 1: Regulatory Actions - Zhongcheng Trust was penalized for ten major violations, including unauthorized personnel assuming roles, inadequate risk project management, and non-compliance in providing financing to projects [1] - Other trust companies, including Huazhong Trust and Xuesong Trust, have also faced penalties this year, with total fines exceeding 18 million yuan across multiple firms [2] Group 2: Historical Context - Since 2019, the trust sector has seen substantial fines, with notable cases from Anxin Trust and Sichuan Trust, which set records in 2020 and 2021 with fines of 14 million yuan and 34.9 million yuan respectively [2] - The trend of increasing penalties reflects the accelerated exposure of historical risks in the industry and the need for compliance restructuring amid pressures from real estate transformation and asset management regulations [2] Group 3: Common Violations - Despite a reduction in issues like non-standard funding pools and loan misappropriation, significant violations persist, particularly in providing financing to non-compliant projects and inadequate post-project management [3] - Specific violations noted include poor management of related transactions, inaccurate asset classification, and failure to disclose risk information in a timely manner [3]