2. Engaged in underwriting and sponsorship business of securities companies in a certain area;
3, as a securities company specializing in securities proprietary business institutions to operate securities proprietary business;
4. As a specialized securities asset management institution of a securities company, it operates securities asset management business. However, a branch company may not directly engage in the business of the securities business department. A securities company may not authorize the same branch to operate different businesses with conflicts of interest. Where a securities company authorizes its branches to engage in securities proprietary business or securities asset management business, the headquarters of the company shall not engage in such business or authorize other branches to engage in such business.
I. Types of securities companies
(1) Securities brokers
That is, the securities brokerage company. Securities institutions that buy and sell securities accept the entrustment of investors to buy and sell securities on their behalf, and charge a certain commission, such as Soochow Securities Suzhou Sales Department and jianghai securities Brokerage Company.
(2) Securities dealers
That is, comprehensive securities companies, in addition to the authority of securities brokerage companies, can also buy and sell securities by themselves. They are well-funded and can directly enter the exchange to buy and sell stocks for themselves. Such as Guotai Junan Securities.
(3) Securities underwriters
An institution that helps issuers sell securities by underwriting or consignment. In fact, many securities companies operate these three businesses at the same time. According to the current practice in various countries, all member companies of a stock exchange can conduct proprietary trading in the trading market, but few securities companies specialize in proprietary trading.
In addition, some certified innovative securities companies also have the authority to create warrants, such as CITIC Securities.
A securities registration company is a service organization for centralized registration and transfer of securities. It is an indispensable part of securities trading and has the nature of administrative management. It must be examined and approved by the competent authority before it can be established.
Two. Conditions for establishing a securities company
(1) Having articles of association that comply with the provisions of laws and administrative regulations;
(2) The major shareholders are profitable continuously, have a good reputation, have no record of major violations of laws and regulations within three years, and have net assets of not less than 200 million yuan;
(3) Professional financial management team of Huaan Securities Company
(4) The professional financial management team of Huaan Securities Company
(5) Having registered capital that meets the requirements of this Law;
(6) The directors, supervisors and senior managers are qualified for the post, and the employees are qualified for securities business;
(7) Having a sound risk management and internal control system;
(8) Having qualified business premises and business facilities;
(9) Other conditions as stipulated by laws and administrative regulations and as stipulated by the State Council Securities Regulatory Authority approved by the State Council.
legal ground
People's Republic of China (PRC) Securities Law
Article 120 With the approval of the securities regulatory authority in the State Council and a license to engage in securities business, a securities company may engage in some or all of the following securities business:
(1) Securities brokers.
(2) Securities investment consultation;
(3) Financial advisers related to securities trading and securities investment activities;
(4) Securities underwriting and sponsorship.
(5) Margin trading.
(6) Market transactions of securities.
(7) Securities are self-operated.
(8) Other securities businesses.
The State Council securities regulatory authority shall, within three months from the date of accepting the application for the matters specified in the preceding paragraph, conduct an examination in accordance with legal conditions and procedures, make a decision on approval or disapproval, and notify the applicant; If it is not approved, it shall explain the reasons.
Securities companies engaged in securities asset management business shall abide by the provisions of People's Republic of China (PRC) Securities Investment Fund Law and other laws and administrative regulations.
Except for securities companies, no unit or individual may engage in securities underwriting, securities sponsorship, securities brokerage and securities margin trading.
Securities companies engaged in securities margin financing and securities lending business shall take measures to strictly prevent and control risks, and shall not lend funds or securities to customers in violation of regulations.