source of this article: time finance author: Wu peixuan

On August 1, the Guangdong Securities Regulatory Bureau issued 6 administrative supervision and management measures to the Guangdong branch of Everbright Securities (601788.SH) and its subordinate business departments, and a number of related business leaders.

the punishment of Everbright Securities mainly involves the lax compliance of the business department, including the relevant staff to assist customers to lend securities accounts to provide intermediary and convenience for others to finance, to promise to customers to bear losses in violation of regulations, and to provide customers with answers to the test questions of the science and technology board.

In this regard, Everbright Securities replied to Times Finance, "The company attaches great importance to the above matters and has immediately ordered the Guangdong branch and related business departments to conduct self-examination and rectification of business development and compliance management, and initiate the investigation and accountability of relevant personnel. At the same time, the company will take this as a warning, continue to strengthen special self-examination and rectification throughout the company, strengthen compliance training for employees, and constantly improve the construction of internal control and compliance system and practice control."

According to incomplete statistics from Time Finance, this is the fourth time Everbright Securities has received a fine this year. Previously, the fine also involved bond underwriting, sponsorship supervision and other businesses.

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Four tickets

On August 1, the Guangdong Securities Regulatory Bureau issued a warning letter to the Guangdong branch of Everbright Securities. Yunfu Xinxing Liyuan Road Securities Business Department managed by the branch mainly has three major violations. First, the former person in charge Zhang Linkai, employees Li Guoxin, Ye Zhenhua and others assisted customers in lending securities accounts to provide intermediary and convenience for others to finance, and promised to bear losses to customers in violation of regulations. Second, some employees have provided customers with answers to scientific innovation board test questions, asked for passwords of customers' securities accounts, sent return questions to customers, provided reply caliber, etc; third, it failed to report major matters such as collective customer complaints to the Guangdong Securities Regulatory Bureau in a timely manner as required.

Tianyan check shows that the securities business department of Everbright Securities Yunfu Xinxing Liyuan Road has been suspected of many civil litigation cases since the end of 2022. A total of 4 parties have sued the business department and many of its employees. Zhang Lankai, Li Guoxin and Ye Zhenhua, who were "named" by the Guangdong Securities Regulatory Bureau, are among them.

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Guangdong Securities Regulatory Bureau not only issued a warning letter to Everbright Securities Guangdong Branch, but also took a decision to order the above-mentioned business department to increase the number of internal compliance inspections. In addition, Zhang Linkai, the former person in charge of the business department, decided to punish Zhang Linkai not to hold the positions of directors, supervisors, senior managers and heads of branches of securities companies or actually perform the above-mentioned positions, The other three employees involved were also punished.

according to the incomplete statistics of time finance and economics, this is the fourth time that Everbright Securities has received a fine this year, involving business including bond underwriting, recommendation supervision, etc.

on February 20, 2023, Shanghai securities regulatory bureau took administrative supervision measures of issuing warning letters to Everbright securities, as the host securities firm of Beijing yingding education technology co., ltd., failed to fulfill its prudent verification obligations diligently and conscientiously during the continuous supervision period, and failed to find that yingding education inflated its business income through fictitious business.

Everbright Securities was "named" again in June in response to the problem of failure to fulfill its duties during continuous supervision ".

On June 6, Jiangsu Securities Regulatory Bureau took administrative supervision measures to issue warning letters to Everbright Securities, as the initial listing sponsor of Naxin Micro (688052.SH) and Dico (300842.SZ), which had many violations in the process of continuous supervision.

During the continuous supervision of Everbright Securities, the above two companies had problems such as inconsistency between the announcement content and the actual situation, and defects in the internal control of financial reporting and compliance management, but Everbright Securities did not find them. As a result, the Jiangsu Securities Regulatory Bureau believed that it had failed to strictly fulfill the relevant requirements of continuous supervision and issued a warning letter.

In addition, on June 1, Everbright Securities, as the lead underwriter of Siping City Investment-related debt financing instruments, violated the relevant self-regulatory rules of the inter-bank bond market and was severely warned by the China Interbank Market Dealers Association.

Regarding this incident, Everbright Securities said in response to Times Finance that the company attaches great importance to it, and has carried out comprehensive self-examination and self-correction of related issues, in-depth rectification, to avoid similar problems from happening again, and will seriously hold relevant responsible persons accountable Accountability; in recent years, the company has further standardized the underwriting and issuance of debt financing through measures such as re-inspecting internal rules and regulations and strengthening internal control management procedures, comprehensively improve the company's business practice level and standardization.

Executive turmoil

since the "816 own goal incident" broke out in 2013, the internal control problem of everbright securities has surfaced. by 2016, the "MPS cross-border merger and acquisition case" thunderstorm has exposed its serious defects in the wind control system.

In addition, Everbright Securities in recent years, personnel "earthquake" frequent, serious executive turmoil.

in April 2022, then chairman Yan jun, president Liu qiuming, vice president Wang zhong, vice president mei Jian and others were demoted, diligently talked and criticized and educated respectively. According to incomplete statistics of time finance and economics, five important executives of Everbright Securities, including former chairman Xue Feng and former general manager of investment bank Du Xiongfei, were investigated or punished.

from the performance point of view, Everbright Securities in the first half of 2023 performance is more impressive. According to its recently disclosed performance bulletin, it recorded operating income of 6.184 billion yuan in the first half of the year and net profit of 2.396 billion yuan, up 15.09 per cent and 13.67 per cent respectively.

Since the 2018 performance "Waterloo", from 2019 to 2021, the performance of Everbright Securities has slowly recovered. The operating income in 2021 has surpassed that in 2015, but the net profit of the parent company has not yet returned to the "high light level" in 2015 ".

Data source: Wind. Charting: Times Finance