其中，服务及费用类投诉占比最高，达33%（1823件）；账户及权限开通类投诉紧随其后，占比为 29%（1569件）；交易系统及软件投诉占比13%，产品类投诉与证券交易委托类投诉各占10%，信用业 务类投诉占比4%，投诉量最少。 值得注意的是，在非经纪业务投诉中，证券资产管理业务投诉占比过半，达54%；承销与保荐业务投诉 占22%，托管业务投诉占21%。 【导读】中证协通报券商去年四季度投诉处理情况，近半数账户类投诉聚焦"转销户" 近日，中国证券业协会在行业内通报了证券公司2025年第四季度投诉处理情况，并同步通报了2025年全 年证券经纪业务类投诉处理典型案例。 数据显示，2025年第四季度，111家证券公司共接收客户投诉6400件，同比下降32%，环比下降6.4%， 呈现"双降"态势。 投资者维权的焦点依然高度集中在传统痛点，如转销户流程繁琐、佣金调整不及时、App系统稳定性 等，券商在精细化服务上仍有较大提升空间。 经纪业务领域投诉占比高达86% 业务分布上，投诉呈现明显集中化特征，经纪业务领域投诉占比高达86%，是绝对的投诉高发板块。 中证协表示，证券公司在处理投诉时，不能仅局限于解决客户当前提出的诉求 ...

Core Insights - The report highlights that in Q2 2025, complaints against securities firms predominantly stemmed from brokerage services, accounting for 84% of total complaints [1] - The main issues within brokerage complaints were related to service and fees, as well as account and permission opening, which together made up over 60% of the complaints [1] Summary by Category Brokerage Complaints - Complaints regarding brokerage services were primarily focused on service and fee-related issues, with specific concerns about commission adjustments and various tax fees [1] - Investors reported five main issues related to commission complaints: lack of clear communication during account opening, unclear transaction software displays, unfulfilled verbal commitments, delays in processing commission adjustment requests, and mismatched commission fees with service quality [1][2] Account Opening Issues - Complaints during the account opening process indicated that some brokers failed to adequately disclose risks, provided vague explanations of business processes, and had slow verification of account documentation [2] Account Transfer and Closure Complaints - Complaints regarding account transfers revealed that some brokers intentionally delayed processing, created obstacles, and inadequately explained the transfer process [2] - Closure complaints highlighted difficulties with online account closure, poor in-branch closure experiences, and unclear communication regarding unresolved business matters [2] Regulatory Response - The China Securities Association previously issued a notice in June 2024 aimed at improving complaint handling mechanisms within the industry, emphasizing the need for brokers to analyze complaint causes and enhance the capabilities of complaint management personnel [2]