Article 124
The establishment of a securities company shall meet the following conditions:
(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 in the last three years, and have net assets of not less than 200 million yuan; ?
(3) Having a registered capital that meets the requirements of this Law; ?
(4) The directors, supervisors and senior managers are qualified for the post, and the employees are qualified for securities business; ?
(5) Having a sound risk management and internal control system; ?
(6) Having qualified business premises and business facilities; ?
(seven) other conditions stipulated by laws, administrative regulations and the State Council securities regulatory agency approved by the State Council.
Extended data:
According to the Securities Law of People's Republic of China (PRC):
Article 129
Securities companies set up, buy or cancel branches, change their business scope, increase their registered capital, make major adjustments to their shareholding structure, reduce their registered capital, change shareholders and actual controllers holding more than 5% of their shares, and change important clauses in their articles of association.
Merger, division, suspension of business, dissolution and bankruptcy must be approved by the the State Council Securities Regulatory Authority. The establishment, acquisition or equity participation of a securities company in a securities operation institution abroad must be approved by the the State Council Securities Regulatory Authority.
Article 130
The State Council securities regulatory authority shall determine the net capital, the ratio of net capital to liabilities, the ratio of net capital to net assets, and the ratio of net capital to the scale of self-management, underwriting and asset management business.
Risk control indicators such as the ratio of liabilities to net assets and the ratio of current assets to current liabilities. A securities company shall not provide financing or guarantee for shareholders and their affiliates.
Article 13 1
Directors, supervisors and senior managers of securities companies should be honest and trustworthy, have good conduct, be familiar with securities laws and administrative regulations, have the management ability required to perform their duties, and obtain the post qualifications approved by the the State Council securities regulatory authority before taking up their posts. ?
Under any of the circumstances specified in Article 146 of the Company Law of People's Republic of China (PRC), or under any of the following circumstances, a person may not serve as a director, supervisor or senior manager of a securities company:
(1) The person-in-charge of a stock exchange, a securities registration and settlement institution or a director, supervisor or senior manager of a securities company who has been dismissed from his post due to illegal or disciplinary acts has not been more than five years since he was dismissed from his post. ?
(2) Lawyers, certified public accountants or professionals of investment consulting institutions, financial consulting institutions, credit rating institutions, asset appraisal institutions and verification institutions whose qualifications have been revoked due to illegal or disciplinary acts have not been more than five years since the date of disqualification.
Article 132
Employees of stock exchanges, securities registration and settlement institutions, securities service institutions and securities companies who have been dismissed for violating laws and disciplines, as well as employees of state organs who have been dismissed, shall not be employed as employees of securities companies.
Baidu Encyclopedia-People's Republic of China (PRC) Securities Law