The China Securities Regulatory Commission has issued a warning letter as an administrative supervisory measure against GF Securities. An investigation found that GF Securities had issues including insufficient independence of its quality control department and irregular project fees, violating relevant provisions of the Compliance Management Measures for Securities Companies and Securities Investment Fund Management Companies and the Internal Control Guidelines for Investment Banking Business of Securities Companies. The CSRC has ordered the company to strengthen internal control management of its investment banking business and to hold relevant responsible personnel internally accountable.
GF Securities Co LtdCSRC issued warning letter for internal control and fee violations, ordering corrective actions.