On December 3, the CSRC announced that it agreed to carry out the pilot of optimizing the account management function of securities companies. After the expert inquiry and review organized by the Securities Industry Association, Citic Securities Company Limited(600030) , Guotai Junan Securities Co.Ltd(601211) , Galaxy Securities, CICC wealth, Guosen Securities Co.Ltd(002736) , Anxin securities, China Merchants Securities Co.Ltd(600999) , China Securities Co.Ltd(601066) , Shenwan Hongyuan Group Co.Ltd(000166) , Huatai Securities Co.Ltd(601688) and other 10 securities companies met the basic requirements of the pilot and passed the review. The CSRC agreed to pilot the above 10 securities companies.
On April 2 this year, the Securities Industry Association issued a notice on the pilot evaluation of optimizing the account management function of securities companies, optimizing the existing account management mode and improving the customer service function from three aspects: establishing a comprehensive customer account, supporting the transfer of the same name and classified account management.
pilot in batches and gradually release
The CSRC announced that in order to implement the relevant requirements for comprehensively deepening the reform of the capital market, further optimize the account management function of securities companies, improve service capacity and promote the high-quality development of the industry, the CSRC supports securities companies to strictly comply with the requirements of laws and regulations such as the securities law, the regulations on the supervision and administration of securities companies and so on, Optimize the internal account management function under the framework of the third-party depository of existing customer transaction settlement funds.
With the diversified development of business, the account system of securities companies is becoming more and more complex, which puts forward new requirements for the integration and optimization of the existing account management system. On the basis of fully listening to the opinions of the industry, and in accordance with the principle of “adhering to the bottom line of customer capital security, optimizing in-process control methods and improving customer service efficiency”, the CSRC supports securities companies to carry out pilot optimization of account management functions from the aspects of establishing comprehensive customer accounts, allowing transfer of the same name and classified account management.
In order to ensure stable reform and prevent business risks, the CSRC supports some companies with strong comprehensive strength, perfect compliance risk control mechanism and fully prepared information system to apply for pilot projects in accordance with the idea of “pilot projects in batches and gradual liberalization”. After the expert inquiry and review organized by the Securities Industry Association, Citic Securities Company Limited(600030) , Guotai Junan Securities Co.Ltd(601211) , Galaxy Securities, CICC wealth, Guosen Securities Co.Ltd(002736) , Anxin securities, China Merchants Securities Co.Ltd(600999) , China Securities Co.Ltd(601066) , Shenwan Hongyuan Group Co.Ltd(000166) , Huatai Securities Co.Ltd(601688) and other 10 securities companies met the basic requirements of the pilot and passed the review. The CSRC agreed to pilot the above 10 securities companies.
The CSRC said that in the next step, the CSRC will further strengthen supervision, urge relevant securities companies to carry out pilot projects steadily, strengthen compliance risk control management, strictly abide by the bottom line of customer capital safety, effectively ensure customer capital safety, and prohibit misappropriation and occupation of customer funds directly or in a disguised form. Once found, it will be severely punished according to law. At the same time, continue to track, evaluate and summarize the pilot effect.
two core pain points to be solved
The reporter of the daily economic news noted that in 2020 and 2021, 15 securities companies were classified and evaluated as AA, and 12 were AA in these two years. In addition to the 10 securities companies agreed by the CSRC to pilot, they also include Everbright Securities Company Limited(601788) and Ping An Securities. At present, the latter two securities companies have not entered the pilot list.
The reporter found that on December 3, Guotai Junan Securities Co.Ltd(601211) announced that the CSRC had no objection to the company’s application for carrying out the pilot business of account management function optimization. The company will carry out the pilot business of optimizing the account management function in strict accordance with the requirements of the regulatory opinion.
In addition, the CIC wealth also released a good news on the official account, that is, the first batch of pilot projects to be allowed to carry out the optimization of account management functions.
It can be seen from the introduction of CICC wealth that after the optimization of account management function, one-step transfer of funds, a clear panorama of assets and one-time synchronization of information interconnection can be realized.
In fact, this is also the pain point of securities account management. According to Shenzhen Kingdom Sci-Tech.Ltd(600446) , with the increasing variety of business types and transaction varieties, there are more and more customer accounts of securities companies. Accounts with the same name are separated from each other and lack effective integration and association. Customers can not see the panoramic asset view or classify and manage accounts.
In addition, under the current deposit mode, the account funds are closed managed according to the business, and cross deposit and cross system fund transfer are not supported. Customers need to allocate funds between different businesses. The operation is quite cumbersome, and it is difficult to meet the diversified wealth management needs of customers.
Therefore, at present, with the rapid development of wealth management business of securities companies and the continuous enhancement of inclusive nature, the lack of comprehensive account system and the lack of interconnection of funds have gradually become the two core pain points of industry development.
“Optimizing the existing account management system and establishing a customer account management model based on the consistency of customer interests has become an urgent demand in the period of high-quality development of the securities service industry. Securities companies can also quickly establish differentiated advantages and improve customer service ability and quality.” Shenzhen Kingdom Sci-Tech.Ltd(600446) further introduces.
In addition, the non bank team of open source Securities believes that, in addition to solving the pain points of transfer restrictions on tripartite depository accounts of multiple banks, securities companies with pilot qualifications are also conducive to richer scenario applications such as public fund investment advisers, laying the foundation for enriching account scenario functions of securities companies and facilitating the wealth management transformation of head securities companies.
(Daily Economic News)
