Core Viewpoint - Fujian Securities Regulatory Bureau has issued penalties against Fujian Zhongxun Securities Research Co., Ltd. for multiple violations in its securities investment consulting business, leading to a three-month suspension of new client acquisition [1][5]. Group 1: Violations Identified - The regulatory body identified six specific violations by Zhongxun Securities, including inadequate corporate governance, misleading promotional practices, lack of reasonable basis for investment advice, insufficient risk warnings, unregistered personnel providing advice, and incomplete public disclosure of consulting information [4][7]. - The company was found to have engaged in misleading advertising and made promises of returns, which are common issues among investment consulting firms [7]. Group 2: Regulatory Actions - The Fujian Securities Regulatory Bureau mandated corrective actions and a three-month suspension on acquiring new clients, effective from the date of the regulatory measure [5][6]. - The vice chairman, Lin Huijie, was also warned for disseminating false information through a personal social media account, further highlighting individual accountability within the firm [5][6]. Group 3: Industry Context - The regulatory environment for investment consulting firms has become increasingly stringent, with over 20 penalties issued this year alone for various violations, including misleading marketing and inadequate internal controls [7][9]. - A list of 22 investment consulting firms, including Zhongxun Securities, has been compiled that are currently under suspension for new client acquisition, reflecting a broader trend of regulatory enforcement in the industry [10].