According to the regulations, it is up to the company to decide whether and where to set up branches and securities business departments of qualified securities companies. The relevant person in charge of the CSRC said that this will help securities companies to choose their own business organization model and business layout according to their respective strategic development plans, management capabilities and the need to optimize resource allocation.
According to the situation of different types of securities companies, the two regulations set different requirements for the establishment of branches, which is helpful for securities companies to improve their professional or regional management level, form their main business advantages and core competitiveness, and provide differentiated and characteristic professional services for the market.
According to the regulatory provisions of the branch, with the approval of the CSRC, the branch can engage in securities self-management, securities asset management, management of securities business departments in a certain region, and securities underwriting and sponsorship in a certain region. However, branches cannot directly engage in securities brokerage business, nor can they engage in multiple businesses with conflicts of interest at the same time; If a branch has been established to engage in securities proprietary trading or securities asset management business, other branches or company headquarters can no longer engage in this business.
According to the provisions of business outlets, priority should be given to the establishment of securities business offices in areas where there are no business outlets or business outlets are insufficient, and they should be inclined to high-quality companies with strong competitiveness, optimize the regional layout of securities business offices, and improve the starting quality of newly established securities business offices.
The Regulations on the Management of Business Outlets also requires relevant securities companies to clean up and close a small number of illegal business outlets left over from history before the end of August 20 10. A company with illegal business outlets may not apply for a new securities business department before the illegal business outlets are closed.
The relevant person in charge of the CSRC said that through comprehensive management, the securities industry has entered a new stage of standardized development and has the conditions for adding branches and securities business departments. On the other hand, with the rapid development of the national economy and the expansion of the size and function of the securities market, the number and layout of existing business outlets of securities companies can no longer fully meet the needs of investors and market development, and it is objectively necessary to set up securities business departments.