Core Viewpoint - The Shenzhen Municipal Bureau of Local Financial Management issued a public notice on February 13, 2026, prohibiting illegal gold trading activities, including gold pricing transactions, leveraged trading, and deferred trading, which have been linked to fraudulent fundraising practices [3][4]. Group 1: Regulatory Actions - The notice explicitly states that enterprises are not allowed to engage in illegal gold pricing transactions, leveraged trading, and deferred trading through various online platforms, including WeChat groups and apps [4][6]. - The regulatory body has identified that some gold trading businesses have been operating under the guise of physical gold transactions while actually engaging in futures-like trading activities [4][6]. - The recent increase in gold price volatility has led to the exposure of risks associated with these trading models, prompting a stricter regulatory approach [3][6]. Group 2: Market Practices - Some gold pricing platforms have faced significant repayment difficulties, with reports indicating that the Jie Wo Rui platform has encountered large-scale repayment issues related to gold pricing transactions [3][5]. - The pre-pricing trading mechanism allows investors to lock in gold prices with a small deposit, leading to high leverage trading, which has attracted many inexperienced investors [5][6]. - The practice of using social media to create a false trading atmosphere has been noted, where platforms lure ordinary investors into high-risk trading activities [3][5]. Group 3: Legal Implications - The regulatory notice marks a clear distinction in the classification of these trading activities, indicating a shift towards recognizing their illegal nature [6][7]. - Legal experts predict that regulatory measures will focus on administrative actions against businesses engaging in pre-pricing and financing activities related to precious metals [7]. - Criminal penalties may be imposed on entities that operate with the intent to defraud investors, particularly those that cause significant financial losses or public unrest [7].

Core Viewpoint - The Shenzhen Municipal Financial Management Bureau has issued a public notice to further regulate illegal gold trading activities, specifically targeting gold pre-pricing transactions, leveraged trading, and deferred trading, which have been linked to fraudulent investment schemes [3][6][9]. Group 1: Regulatory Actions - The notice explicitly prohibits enterprises from engaging in illegal gold pre-pricing transactions, leveraged trading, and deferred trading, which are often disguised as legitimate gold trading activities [6][9]. - The regulatory body has identified that some gold trading platforms have been operating under the guise of "physical gold transactions" while actually conducting futures-like trading, leading to significant risks for investors [4][9]. - Recent market volatility in gold prices has accelerated the exposure of risks associated with these trading models, prompting a stricter regulatory approach [4][10]. Group 2: Market Practices and Risks - Some gold trading platforms have allowed investors to participate in high-leverage trading with as little as a 2.4% deposit, creating a false sense of security and attracting inexperienced investors [3][6]. - The pre-pricing trading mechanism allows investors to speculate on gold prices without actual physical delivery, which has led to significant financial exposure and risks for both investors and platforms [6][7]. - Recent reports indicate that several gold pre-pricing platforms have faced difficulties in fulfilling payment obligations, with one platform reportedly involved in a crisis affecting over 10 billion yuan [3][7]. Group 3: Legal and Administrative Measures - The regulatory framework will focus on two main areas: pre-pricing business (futures-like activities) and financing activities based on gold, both of which exhibit strong financial characteristics [10]. - Violations of these regulations may result in the revocation of business licenses and administrative penalties for responsible parties, with potential criminal charges for entities engaging in fraudulent practices [10][11]. - The distinction between legitimate physical gold transactions and financial instruments will be crucial in determining the legality of various business operations in the gold market [10].

Core Viewpoint - The Shenzhen Municipal Financial Management Bureau has issued a public notice prohibiting illegal gold trading activities, including gold price reservation trading, leveraged trading, and deferred trading, as well as illegal fundraising activities disguised as gold custody, leasing, and repurchase with promises of fixed returns [1][2][3] Group 1: Regulatory Actions - The notice explicitly states that enterprises are not allowed to engage in illegal gold trading activities through various online platforms, including WeChat groups and apps, under the guise of gold recovery and price reservation [2][3] - The regulatory body has clarified the illegal nature of these activities, marking a shift towards stricter oversight of gold price reservation trading and related financial activities [5][6] Group 2: Market Practices - Some gold traders in Shenzhen have been found to operate under the pretense of gold trading while actually engaging in futures-like price reservation trading, allowing investors to lock in gold prices with minimal deposits [2][5] - The recent volatility in gold prices has exposed significant risks associated with these trading models, leading to difficulties in repayment for several gold price reservation platforms [1][3] Group 3: Legal Implications - The regulatory framework will focus on two main areas: price reservation trading (futures-like activities) and financing activities based on gold, both of which exhibit strong financial characteristics [6] - Violations of these regulations may result in the revocation of business licenses and administrative penalties for responsible parties, with potential criminal charges for entities engaging in fraudulent practices [6]

Core Viewpoint - The articles highlight the prohibition of illegal gold trading activities, including pre-pricing, leveraged trading, and deferred trading, emphasizing the need for compliance in the gold market [1] Group 1: Prohibited Activities - Enterprises are not allowed to engage in illegal gold pre-pricing transactions, leveraged trading, or deferred trading through internet platforms under the guise of gold recycling and pre-pricing sales [1] - Companies must refrain from conducting illegal fundraising activities that promise fixed returns under the guise of gold custody, leasing, or repurchase [1] - Enterprises are prohibited from misleading consumers into purchasing physical gold while promoting illegal gold investment activities without actual delivery of the gold [1] Group 2: Individual Participation - Individuals are not permitted to organize or participate in illegal gold pre-pricing transactions, illegal fundraising under the name of gold, or any form of illegal gold investment activities [1]