Core Viewpoint - The "Integrity Guidelines" issued by the China Securities Association on May 20, 2022, provide a solid institutional guarantee for the construction of a compliance, integrity, professionalism, and stability culture in the securities industry, emphasizing the importance of integrity in maintaining market order and promoting high-quality development in the industry [1]. Group 1: Positive Effects of the Integrity Guidelines on Industry Integrity Construction - The integrity principle is fundamental in the securities market, serving as a crucial supplement to legal interpretations and judicial applications, especially in the absence of explicit regulations [2]. - The integrity guidelines enhance the effectiveness of industry integrity management by incorporating the integrity status of institutions and their staff into a reputation incentive and constraint mechanism, promoting a culture of honesty and integrity within the industry [3]. - The guidelines act as a bridge between national laws and the cultivation of integrity behaviors among micro-participants, establishing clear responsibilities for institutions in integrity culture construction and risk prevention [4]. Group 2: Main Manifestations of Securities Companies Failing to Fulfill Basic Integrity Obligations - The integrity guidelines outline the basic obligations of securities companies, including compliance with legal requirements, fair competition, due diligence, and investor protection [5][6]. - From January 2023 to July 2024, regulatory measures against securities companies revealed a total of 240 cases of non-compliance with integrity obligations, with the most frequent violations being failure to adhere to due diligence requirements (130 cases) and legal compliance (60 cases) [8][10]. - Specific violations include inadequate diligence in investment banking, non-compliance with legal requirements, and failure to protect investors, highlighting significant shortcomings in fulfilling basic integrity obligations [10][11][12]. Group 3: Recommendations for Integrity Construction under the Integrity Guidelines - Companies should strengthen the cultivation of integrity culture and establish a clear integrity value system, ensuring that integrity education is integrated into daily operations [15]. - It is essential to refine basic integrity systems and translate the integrity obligations into actionable internal controls and business processes, ensuring that these obligations are not merely theoretical [16]. - Establishing incentive and constraint measures for integrity construction is crucial for creating a trustworthy environment, including performance assessments and clear accountability for dishonest behavior [17].