"Guotai Junan Securities fined twice in a row"

Recently, the Chongqing Securities Regulatory Bureau issued two fines. The announcement shows that during his employment at the Qinyun Road Guojin Center Securities Business Department of Tianfeng Securities in Chongqing, Liao Lulin served as a financial manager for another company and sold products not issued or sold by Tianfeng Securities to others, resulting in a warning letter being issued to him. The business department also received a warning letter for not effectively preventing related compliance risks. Analysts interviewed believe that securities business departments continue to sell products in violation of regulations because internal control mechanisms are weak, unauthorized behavior by employees is not effectively regulated, and customer suitability management is insufficient. The issue should be comprehensively addressed through improving a comprehensive regulatory mechanism, innovative technological governance methods, and strengthening industry collaborative governance.