The net capital of a securities company engaged in securities brokerage business shall not be less than RMB 20 million. Securities companies engaged in securities underwriting and sponsorship, securities self-management, securities asset management and other securities business, the net capital shall not be less than 50 million yuan.
Securities companies engaged in securities brokerage business, securities underwriting and sponsorship, securities self-management, securities asset management and other securities business, the net capital shall not be less than 654.38 billion yuan.
Securities companies engaged in more than two securities underwriting and sponsorship, securities self-management, securities asset management and other securities business, the net capital shall not be less than 200 million yuan.
What are the classifications of securities companies?
Judging from the functions of securities companies, it can be divided into:
1. Securities broker
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.