Securities firms have been intensively revising their compensation management systems to strengthen long-term constraints.

Brokerage compensation reform continues to advance. Since June, more than ten brokerage firms have publicly stated that they will refine and improve their compensation management systems, with a focus on revising long-term assessment, deferred payments, and clawback provisions. Experts interviewed believe that the brokerage compensation system is transitioning from "short-term incentives" to "long-term constraints."