【导读】证监会对大摩投资处以300万元罚款，并处撤销证券投资咨询业务许可 又一家证券投资咨询机构，被"摘牌"！ 12月19日，证监会官网公布的行政处罚决定书显示，证监会对青岛大摩证券投资有限公司（以下简称大摩投资）处以300万元罚款，并处撤销证券投资咨 询业务许可。同时，证监会对4名相关责任人给予警告，并分别处以60万元、50万元、40万元、30万元的罚款。 经查，大摩投资未按照规定保存且毁损有关文件和资料，向证券监管部门报送的文件存在重大遗漏，相关违法行为情节严重。 故意删除服务记录数据 漏报营业收入4.85亿元 经查明，大摩投资等当事人存在以下违法事实： 一是未按照规定保存且毁损有关文件和资料。 经查，2020年以来，大摩投资济南分公司通过微信公众号"大摩指数"提供课程售卖及观看、发送资讯及互动聊天等投资咨询服务，并通过第三方公司等引 流方或推广公司为投教课程提供互联网引流推广服务。大摩投资未按照规定保存上述业务推广、服务记录等有关资料，且故意删除数据库中相关服务记录 的部分数据。相关业务涉及众多客户，金额较大，情节严重。 二是向证券监管部门报送的文件存在重大遗漏。大摩投资即墨分公司与大摩投资济南分公司均 ...

Core Viewpoint - The regulatory environment for the securities investment consulting industry in China is becoming increasingly stringent, as evidenced by the recent penalties imposed on Beijing Zhongfang Xinfu Investment Management Consulting Co., Ltd. for various violations, including a fine of 3 million yuan and the revocation of its securities investment consulting license [1][4][5]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) has issued 68 regulatory letters to securities investment consulting firms in 2023, indicating a significant increase in enforcement actions [1][9]. - Zhongfang Xinfu is the first firm this year to have its securities investment consulting license revoked, highlighting the serious nature of its violations [5][9]. Violations and Penalties - Zhongfang Xinfu failed to maintain proper records for 13 clients and provided false information to regulatory authorities, including the addition of 223 new clients during a business suspension [4][5]. - The penalties for Zhongfang Xinfu include a 3 million yuan fine and the revocation of its consulting license, while its chairman, Zhang Song, received a warning and a 600,000 yuan fine, along with a six-year ban from the securities market [5][6]. Industry Impact - The revocation of Zhongfang Xinfu's license will severely impact its ability to conduct business, leading to potential loss of clients and damage to its brand reputation [8]. - Other firms in the industry have also faced similar penalties, indicating a trend of increased scrutiny and enforcement by regulatory bodies [5][9]. Compliance Issues - The frequent violations in the industry are attributed to low penalties compared to the potential gains from non-compliance, leading firms to prioritize short-term profits over long-term compliance [10][11]. - There is a noted lack of internal controls and compliance culture within many firms, which exacerbates the issue of regulatory violations [10][11].

Core Viewpoint - The frequent violations by licensed securities investment consulting firms highlight the need for a fundamental reshaping of industry values rather than merely reducing the number of penalties [1][9]. Regulatory Actions - As of June 22, the China Securities Regulatory Commission (CSRC) and local securities regulatory bureaus issued 45 regulatory letters to 40 licensed securities investment consulting firms, with over half of these firms being named [5]. - Multiple firms, including Jinzheng Investment Consulting and Fujian Zhongxun Securities Research, have been ordered to suspend new client acquisitions for 3 to 6 months due to violations such as inadequate internal controls and misleading marketing practices [2][3][4]. Common Violations - Common issues among the firms include inadequate internal systems, misleading marketing, promises of investment returns, and unregistered personnel providing investment advice [5][8]. - The industry has seen a pattern of violations, with many firms failing to provide reasonable bases for investment advice and lacking adequate risk warnings [6]. Industry Challenges - Factors contributing to the high incidence of violations include profit-driven motives, lack of professional training among staff, and the rapid development of the industry outpacing regulatory frameworks [7]. - Intense competition within the industry has led some firms to lower service standards and resort to non-compliant practices to attract clients [7]. Recommendations for Improvement - Establishing a correct industry value system and enhancing internal management are crucial for improving service quality and compliance [10]. - Firms should focus on long-term investment principles, strengthen compliance training, and develop robust internal oversight mechanisms to detect and correct violations [10][12]. Regulatory Enhancements - There is a call for stricter regulatory measures and faster responses to violations, including the use of modern technology for dynamic monitoring of firms [12]. - Increased penalties for violations are suggested to create a more effective deterrent against non-compliance [11][12].