(1) Market access system based on honesty and qualification.
Establish and improve the market quasi-person system, including the establishment of institutions, business licenses, employees, especially senior managers, and keep good quasi-persons out through administrative licensing to prevent bad institutions and personnel from entering the securities market. The establishment of a securities company must meet the requirements of laws and regulations on registered capital, shareholders, senior management and business personnel, system construction, business premises, compliance records and so on. Carefully investigate the qualifications of controlling shareholders and major shareholders in the access link, and encourage institutions with strong capital strength and good credit records to participate in securities companies. Linking the business license with the capital strength of securities companies requires that securities companies must meet the minimum capital requirements for different businesses; Strengthen the supervision of senior executives of securities companies, change the post-qualification examination into a combination of pre-examination, professional evaluation and dynamic assessment, effectively protect professional law-abiding senior executives, eliminate non-compliant and incompetent senior executives, punish illegal senior executives, and gradually cultivate qualified professional managers in the securities industry.
(B) the operational risk control system with net capital as the core
In July 2006, China Securities Regulatory Commission issued and implemented the Measures for the Management of Risk Control Indicators of Securities Companies, and revised the Measures in 2008 according to the practice. This method establishes a risk control index system and a risk supervision system with net capital as the core. This system has three characteristics: first, it establishes a dynamic linkage mechanism between the company's business scope and the level of net capital adequacy; Second, the dynamic linkage mechanism between the company's business scale and venture capital is established; Thirdly, the dynamic linkage mechanism between venture capital reserve and net capital level is established.
According to the Regulation on Classified Supervision of Securities Companies, China Securities Regulatory Commission classifies securities companies into five categories: A(AAA, AA, A), B(BBB, BB, B), C(CCC, CC, C), D and E * * *, with the level of 1 1.
According to the principle of classified supervision, China Securities Regulatory Commission sets different risk control index standards and risk capital reserve calculation ratio for different types of securities companies, and treats them differently in terms of supervision resource allocation, frequency of on-site inspection and off-site inspection.
(3) Compliance management system
In July 2008, China Securities Regulatory Commission issued and implemented the Trial Provisions on Compliance Management of Securities Companies, requiring securities companies to establish an internal compliance management system in an all-round way, set up a compliance director and a compliance department, strengthen the pre-review, in-process supervision and after-the-fact inspection of the compliance of company management behavior, effectively prevent, timely detect and quickly deal with violations of internal institutions and personnel, and quickly improve and perfect the internal management system. China Securities Regulatory Commission regards the effectiveness of compliance management as an important index to evaluate securities companies, and accordingly decides the punishment method and intensity for their violations, so as to encourage and strengthen self-discipline management.
(4) The third-party depository system for customer transaction settlement funds.
According to the newly revised Securities Law of People's Republic of China (PRC) in 2006, China Securities Regulatory Commission has designed and implemented a new third-party depository system for customer transaction settlement funds on the basis of the original depository system for customer funds and the principles of ensuring the safety of customer assets, preventing risk transfer, facilitating investors and facilitating business innovation of securities companies.
Third-party deposit of customer transaction settlement funds refers to that securities companies open special accounts in a number of commercial banks to deposit customer transaction settlement funds on the basis of accepting customers' entrustment and assuming the responsibility of declaration, liquidation and settlement. According to the deposit and withdrawal of customers' funds and the transaction settlement results provided by securities companies, commercial banks record the changes of each customer's funds, establish detailed account books of customers' funds, and carry out total score verification and fully closed bank-securities transfer of customers' funds.
(5) Information submission and disclosure system
The regulatory requirements for information reporting and disclosure of securities companies include:
(1) information submission system. Information submission system means that securities companies should submit annual reports to China Securities Regulatory Commission within 4 months after the end of each fiscal year and monthly reports within 7 working days after the end of each month according to relevant laws and regulations. When a major event occurs that affects or may affect the operation and management, financial status, risk control indicators or customer asset safety of a securities company, the securities company shall immediately submit an interim report to the China Securities Regulatory Commission, explaining the reasons, current situation, possible consequences and corresponding measures to be taken.
(2) Information disclosure system. The system is mainly used for the disclosure of basic information and financial information of securities companies.
(3) Audit supervision of the annual report. This is an important means of off-site inspection and daily supervision of securities companies.