From July 12 to 13, under the deployment of CSRC Department of Market Supervision and Department of Fund and Intermediary Supervision, Shenzhen Stock Exchagne (SZSE), Shanghai Stock Exchange (SSE), the China Capital Market Institute, CSRC Hunan Bureau and the Securities Association of Hunan jointly organized the fourth special training on customer management for securities companies in 2018. This is order to thoroughly implement the spirits of the 19th CPC National Congress, the National Financial Work Conference and the Central Economic Work Conference, vigorously promote the comprehensive implementation of the “member-regulation-oriented” transaction behavior regulation model and enhance the active awareness of members in fulfilling their customer management responsibilities. Held in Changsha, Hunan, the training had the participants of about 200 principals of the compliance risk control and brokerage business lines of securities companies, securities business departments in Hunan.
Comrade Jiang Yang (member of the thirteenth National Committee of CPPCC and former vice chairman of CSRC) was specially invited to attend the training and give a lecture. Jiang emphasized that as members of exchanges, securities companies have the right to participate in transactions and have the responsibilities of maintaining the normal transaction order of the market, supervising and managing customers’ transaction behaviors and discovering and stopping abnormal transaction behaviors. As securities business departments excavate and develop investors, they are the market entities who know customers the best and can best penetrate customers. Besides, they are the first line of defense for the stable and healthy development of the capital market. Promoting the formation of a hierarchical supervision model of “exchanges managing members and members managing customers” is an inevitable requirement for maintaining the stable market operation and an important measure to protect the interests of investors. The whole industry should form a unified understanding, comprehend the significance of the transformation of regulatory models, effectively improve compliance and risk control capabilities, and consciously perform customer transaction behavior management responsibilities.
At this training, relevant experts from CSRC and the exchanges interpreted the regulatory requirements on securities companies’ customer management from the aspects of risk disclosure, real-name system implementation, and abnormal transaction monitoring by centering around the frontline regulatory system. They urged securities companies to act as good “gatekeepers” of the securities market, strengthen the first-line supervision measures and jointly build a frontier supervision defense line. In addition, domestic and foreign representatives of securities traders were invited to share experience in and practices of customer management and trainees were divided into groups for discussions and exchanges.
This training is a part of the special training series organized by SZSE and the China Capital Market Institute under CSRC’s deployment and the support of CSRC’s local bureaus. With a planned time span of two years, the training series is to carry out rotation training for the principals of securities business departments, securities companies’ brokerage business, and compliance risk control in the whole country.
