Core Viewpoint - The article highlights the increasing regulatory scrutiny in the securities industry, particularly focusing on the issue of "flying orders" where employees sell non-company products, leading to administrative penalties and warnings for both individuals and their respective firms [1][3][4]. Group 1: Regulatory Actions - The Chongqing Securities Regulatory Bureau issued a warning to Liao Moulin for selling non-Tianfeng Securities products while employed at Tianfeng Securities [1][3]. - Liao Moulin's actions have resulted in his current firm, Southwest Securities, being affected, as the Chongqing Securities Regulatory Bureau noted compliance failures at the Tianfeng Securities branch [3]. - The article mentions similar cases, such as the Beijing Securities Regulatory Bureau's warning to Bohai Securities for failing to prevent employees from selling private equity products [3]. Group 2: Compliance Risks - The article emphasizes that "flying orders" are a common issue in the industry, where employees sell financial products that are not authorized by their firms, posing significant compliance risks [3][4]. - The Jiangxi Securities Regulatory Bureau pointed out that these unauthorized products are often marketed as "high yield" and "low risk," which can mislead investors and lead to disputes [4]. - The need for securities firms to enhance the management of their marketing personnel and to instill a legal awareness among them is highlighted as a critical measure to mitigate compliance risks [4].