"2026 March 15 Securities Firm Consumer Rights Violations List" Released; Four Companies Previously Named by Regulators

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The annual 3.15 International Consumer Rights Day is coming. Over the past year, issues and phenomena of consumer rights violations in various financial sectors have been emerging endlessly. Sina Finance has summarized these. For the securities industry, we have launched the “Sina Finance 2026 3.15 Securities Company Violations of Consumers’ Right to Know and Decision-Making Power List.”

First, the Shanghai Securities Regulatory Bureau disclosed that Shenwan Hongyuan Securities, during its business operations, engaged in behaviors such as “failing to disclose major matters that may affect investors’ interests within five days of the occurrence,” violating relevant management regulations. They were notified and issued a warning letter.

Second, the Zhejiang Securities Regulatory Bureau disclosed that Caixin Securities’ over-the-counter derivatives business had issues such as “improper target management mechanisms and failure to implement timely dynamic adjustments to linked targets,” violating multiple management regulations. They were required to rectify these issues.

Third, Financial Street Securities was reported for illegal activities such as “multiple employees in various locations privately promoting or selling products from platforms like Beijing Hengtai Puhui Information Service Co., Ltd., issued or distributed by Non-Financial Street Securities Co., Ltd. (formerly Hengtai Securities Co., Ltd.),” by the Inner Mongolia Securities Regulatory Bureau. They were instructed to increase internal compliance checks and submit compliance inspection reports.

Fourth, the China Securities Regulatory Commission previously disclosed administrative penalties and market bans for Tianfeng Securities (rights protection) for illegal and regulatory violations. Tianfeng Securities was involved in illegal financing and information disclosure violations for Contemporary Group, seriously violating securities laws and regulations. The Shanghai Stock Exchange plans to impose disciplinary actions on Tianfeng Securities, Contemporary Group, and relevant responsible personnel, including the maximum penalties allowed.

Overall, although the headquarters of securities companies are not frequently named for penalties, these companies are prone to illegal activities, and violations of investors’ and consumers’ legitimate rights and interests are difficult to undo. Securities companies need to strengthen their management to protect consumers’ right to know and decision-making power.

(Editor: Fu Zhen)

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