Securities companies are mainly engaged in securities-related businesses, such as securities brokerage, securities investment consulting, securities asset management, securities underwriting and sponsorship. Classification of securities companies:
1, securities brokers, these companies are intermediaries that help investors buy and sell stocks;
2, securities underwriters, this kind of company is to help enterprises issue shares after listing, when investors want to buy the shares issued by the company, they must buy through this kind of securities company;
3. Brokers, as securities firms, also belong to the ranks of investors from a certain perspective, and are also buyers and sellers of stocks; Comprehensive brokers, as the name implies, can operate the above three businesses at the same time.
legal ground
People's Republic of China (PRC) Securities Law
Article 11 To set up a joint stock limited company to publicly issue shares, it shall meet the conditions stipulated in the Company Law of People's Republic of China (PRC) and other conditions stipulated by the securities regulatory authority of the State Council approved by the State Council, and submit an application for offering shares and the following documents to the securities regulatory authority of the State Council:
(1) Articles of Association;
(2) Sponsor agreement;
(3) The name of the promoters, the number of shares subscribed by the promoters, the type of capital contribution and the capital verification certificate;
(4) the prospectus;
(5) The name and address of the bank that collects the shares;
(6) The name of the underwriting institution and relevant agreements.
Where a sponsor is hired in accordance with the provisions of this law, a letter of recommendation for issuance issued by the sponsor shall also be submitted.
Where laws and administrative regulations stipulate that the establishment of a company must be approved, the corresponding approval documents shall also be submitted. Article 12 The initial public offering of new shares issued by a company shall meet the following conditions:
(1) Having a sound organizational structure;
(2) It has the ability of continuous operation;
(3) The financial and accounting reports of the last three years have been issued with unqualified audit reports;
(4) The issuer and its controlling shareholder or actual controller have not committed any criminal acts of corruption, bribery, embezzlement, misappropriation of property or disturbing the order of the socialist market economy in the last three years;
(5) Other conditions as stipulated by the the State Council Securities Regulatory Authority approved by the State Council.
When a listed company issues new shares, it shall meet the requirements stipulated by the securities regulatory authority of the State Council approved by the State Council, and the specific management measures shall be stipulated by the securities regulatory authority of the State Council.
The public offering of depositary receipts shall meet the conditions for the initial public offering of new shares and other conditions stipulated by the the State Council Securities Regulatory Authority.