Supervision of senior managers of securities companies. Regarding the qualifications of directors, supervisors, senior managers and heads of domestic branches of securities companies, the Regulations on the Supervision and Administration of Securities Companies stipulates that securities companies shall not employ or select persons who do not have the qualifications to serve as directors, supervisors, senior managers and heads of domestic branches of securities companies; If it has been appointed or elected, the resolutions and decisions on appointment or election are invalid. (2) Those who actually exercise the functions and powers of directors, supervisors, senior managers or heads of domestic branches of securities companies without obtaining the post qualifications shall be ordered by the the State Council Securities Regulatory Authority to stop exercising their functions and powers, and shall be announced, and may be banned from the securities market in accordance with regulations.