Group 1 - The core viewpoint of the news is the issuance of a notification by the Trading Association to standardize the disclosure of information related to the issuance and underwriting of debt financing instruments in the interbank bond market [1][2] - The notification specifies that the lead underwriter must conduct balance underwriting after the designated book-building period, and the scale of balance underwriting should not encroach on the effective subscription scale of investors [1] - From August 11, issuers are required to disclose the lead underwriter's self-owned fund allocation in the issuance announcement, which has been complied with by several issuers [1] Group 2 - The market generally perceives that the distinction between underwriting and self-investment is often unclear, and the new regulations require disclosure to help market participants understand the lead underwriter's fund holding status post-issuance [2] - The Trading Association will continuously monitor and regularly publicize the self-owned fund holding status of lead underwriters, which aids regulatory authorities in identifying abnormal transactions and potential risks in the bond market [2]