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Recently, Shenzhen Stock Exchange (hereinafter as “SZSE”) and Shanghai Stock Exchange (hereinafter as “SSE”) jointly conducted the second training session in 2017 on trading compliance management for member firms, which attracted about 200 participants including the key employees responsible for compliance and risk control from the headquarters of over 90 securities companies and managers of over 90 business departments.
The training on trading compliance management for member firms was held in accordance with the spirit of the National Financial Work Conference and the arrangements of the Mid-year Regulatory Work Conference of the China Securities Regulatory Commission (hereinafter as “CSRC”) under the current situation, in order to improve the awareness on client management of licensed institutions in the brokerage business and to urge members to better perform such responsibilities given their sound understanding of the market and the clients as to regulate and rein in the abnormal trading behaviors of their clients.
During the trading session, SZSE and SSE, in combination with the work on promoting and establishing a member-centered transaction behavior regulation mode as well as on tightening up the front-line supervision, analyzed the situation of securities market regulation and the focus of the regulatory work of the exchanges; stressed the necessity and importance of the member-based transaction behavior regulation mode; pointed out the characteristics and risks of typical abnormal securities transactions, violations and illegal behaviors via case study and explained the regulatory logic and standards; and reported the results of the on-site inspection on some of the members during the first half of the year and the progress in completing and improving relevant rules and systems and regulatory standards, providing business guideline and training and strengthening supervision and regulation.
To give full play to the role of the Member Self-discipline and Management Committee of the SZSE administrative committee, enrich the training and encourage communication among the members, a member firm was invited to give a lecture during the training session to share its experiences and interact with others in respect of reinforcing management of client trading behavior.
As always, SZSE and SSE, as membership-based organizations, attach much importance to and are constantly intensifying member training to deepen member services and urge members to perform their duties. Next, SZSE and SSE shall conduct more training on the same topic, tighten up service-based regulation and supervision, actively promote and establish a member-based trading behavior regulation mode, motivate members to manage the trading behaviors of their clients, jointly maintain the market order and promote the stable and sound development of the capital market.
