Shanghai Stock Exchange requires securities firms to conduct self-inspections on margin trading, client transactions, and investment banking business

Golden Ten Data reported on December 16 that the Shanghai Stock Exchange organized securities firms to carry out self-inspection work in December, including customer trading behavior, financial business, customer suitability management, transaction and related system management, underwriting and sponsorship business, etc., and urged brokerages to find weak links in business management and actively rectify and implement them. Among them, the self-inspection of programmatic trading includes whether to strengthen the monitoring of programmatic trading orders that may seriously affect market prices and liquidity, and timely identify, manage and report customers' suspected abnormal trading behaviors; Whether the continuous management of securities lending and borrowing is in place, whether continuous verification is carried out for large-scale purchases and private placements after securities lending, whether the verification coverage is comprehensive, etc., whether the "T+0" trading behavior of securities lending and borrowing is monitored, and whether the front-end control of "T+0" is carried out for securities borrowing and lending; In terms of investment banking business, whether the lead underwriter is diligent and conscientious, whether it induces investors or conveys improper benefits to investors through other benefit arrangements such as underwriting fee sharing, signing drawer protocols or verbal promises, and whether the professional competence, practice quality, and compliance of investment banking business personnel are taken into account in the remuneration income, etc. Exchange will take the opportunity to arrange spot checks, and if the self-inspection work is not in place and is not objective, corresponding self-discipline management measures will be taken.