On April 7, capital securities was ordered by Beijing Securities Regulatory Bureau to correct the regulatory penalty due to the partial interruption of the centralized trading system about a year ago, which affected the trading time for about 20 minutes. On April 2, China Merchants Securities Co.Ltd(600999) was also ordered to make corrections by Shenzhen Securities Regulatory Bureau due to problems such as processing delay in the centralized trading return system.
Information system is the basis for securities companies to carry out various businesses. More and more securities companies are increasing the amount of information technology investment year by year to consolidate infrastructure and information security.
According to the statistics of the reporter of the daily economic news, up to now, 25 securities companies have disclosed the amount of information technology investment in 2021, totaling 16.505 billion yuan, of which Huatai Securities Co.Ltd(601688) exceeded 2 billion yuan. In addition, the investment in information technology in Guotai Junan Securities Co.Ltd(601211) , China International Capital Corporation Limited(601995) , China Merchants Securities Co.Ltd(600999) , Haitong Securities Company Limited(600837) and China Securities Co.Ltd(601066) 2021 also exceeded 1 billion yuan respectively.
capital securities was ordered to make corrections
On April 7, the Beijing Securities Regulatory Bureau issued a decision ordering capital securities to take corrective regulatory measures. Beijing Securities Regulatory Bureau said that the centralized trading system of capital securities was partially interrupted on May 18, 2021, affecting the trading time for a total of about 20 minutes. According to Article 12 of the measures for the reporting, investigation and handling of information security incidents in the securities and futures industry (CSRC announcement [2012] No. 46), the incident reached the standard of major information security incidents.
It is worth mentioning that after the investigation by Beijing Securities Regulatory Bureau, it was found that the relevant personnel of the Information Technology Department of capital securities deleted the relevant logs and database information during the emergency disposal process, and did not back up, so it was always unable to determine the real cause of the information security incident. Capital Securities did not truthfully report the improper emergency treatment in the first report.
Beijing Securities Regulatory Bureau said that the above problems reflect the defects in the information security management and information security incident response of capital securities, so it decided to take administrative regulatory measures to order the rectification of capital securities. Capital securities shall conduct a comprehensive self-examination on information security related issues, effectively improve the system operation and maintenance guarantee ability and troubleshooting ability, improve the information security emergency handling mechanism, strengthen the training of information technology personnel, ensure their ability to perform their duties and prevent the recurrence of similar problems.
The main businesses of securities companies are highly dependent on the information system. The information technology system is an important carrier for securities companies to carry out various businesses, which runs through all aspects of the operation and management of securities companies. In the declaration draft of the initial prospectus released in January this year, capital securities admitted that the company could not completely eliminate the emergencies such as software and hardware failures, system vulnerabilities, communication interruption, virus or hacker attacks, data loss or leakage of the information system, and could not meet the needs of the company’s business development due to the failure to improve and upgrade the information technology system in a timely and effective manner, which may affect the company’s reputation Adversely affect competitiveness and business performance.
“Compared with China’s first-class securities companies, the company has problems such as insufficient professional talents and insufficient capital investment in information technology. Therefore, the company plans to use the raised funds to strengthen the construction of information technology system and provide strong information technology support for the coordinated development of various businesses of the company.” Capital Securities said in its initial prospectus.
China Merchants Securities Co.Ltd(600999) also punished
Coincidentally, on April 2, Shenzhen Securities Regulatory Bureau also issued a decision to order China Merchants Securities Co.Ltd(600999) to take corrective measures. According to the Shenzhen Securities Regulatory Bureau, China Merchants Securities Co.Ltd(600999) in the network security incident on March 14, 2022, there were some problems, such as imperfect change management, untimely and inadequate emergency disposal.
Therefore, Shenzhen Securities Regulatory Bureau decided to take administrative regulatory measures to order correction of China Merchants Securities Co.Ltd(600999) company. “Your company should further strengthen the overall planning of the construction of important information systems, fully understand the system architecture and internal operation mechanism, strengthen the management of R & D, testing, launch, upgrading and operation and maintenance, improve the emergency response mechanism, ensure the professional ability and quantity allocation of personnel in key positions, and ensure the safe and stable operation of the information system; at the same time, your company should investigate the internal responsibility of the personnel responsible for this incident. Your company should Complete the above rectification work within 3 months and submit the rectification report to our bureau. ” Shenzhen Securities Regulatory Bureau further stressed.
On March 14, ” China Merchants Securities Co.Ltd(600999) collapsed” rushed to the hot search. Some netizens said that ” China Merchants Securities Co.Ltd(600999) system can’t be bought, sold or withdrawn” and “the fault can’t be solved in an hour”. A netizen said: “asked the customer service and said it was the system failure of Shenzhen headquarters”. Subsequently, the reporter called China Merchants Securities Co.Ltd(600999) “95565 national customer service hotline”, which could not be connected. Some netizens said that in addition to the 95565 phone, their account opening business department, wealth consultant and online customer service did not answer the phone or could not be contacted. At noon of the same day, China Merchants Securities Co.Ltd(600999) responded that after the opening on March 14, China Merchants Securities Co.Ltd(600999) centralized trading system had sent all trading orders to the exchange system in real time. However, due to the delay in the processing of transaction returns, some customers did not receive the transaction returns in time at the client, and the cancellation transaction was vulnerable to be affected. The company is deeply sorry for the inconvenience to customers. At present, the repair is being stepped up, the problem has been alleviated, and other functions of the system are normal.
On March 15, China Merchants Securities Co.Ltd(600999) issued a description of the failure of the centralized trading system China Merchants Securities Co.Ltd(600999) said that on March 14, China Merchants Securities Co.Ltd(600999) centralized transaction return system had faults such as processing delay, resulting in some customers not receiving transaction return information in time and the cancellation transaction was affected. In this regard, the company immediately mobilized resources for emergency troubleshooting, repeated verification and testing. At present, the fault has been eliminated and the system service has returned to normal.
information technology investment increases year by year
In the context of the rapid development of financial technology, the securities industry has paid more attention to information technology, and the investment in information technology has increased year by year. The investment in information technology in 2020 was RMB 267.2 billion, accounting for 267.2% of the total annual operating revenue. From 2017 to 2020, the securities industry invested 84.5 billion yuan in information technology. The industry continued to increase investment in information technology, laying a solid foundation for the digital transformation and high-quality development of the industry.
At present, the 2021 annual report of the securities industry is still in the process of disclosure. According to the statistics of the reporter of the daily economic news, up to now, 25 securities companies have disclosed the amount of information technology investment in 2021 in the annual report and other public information, with a total investment of 16.505 billion yuan. Among them, Huatai Securities Co.Ltd(601688) 2021 has the largest amount of information technology investment, reaching 2.228 billion yuan. In addition, Guotai Junan Securities Co.Ltd(601211) , China International Capital Corporation Limited(601995) , China Merchants Securities Co.Ltd(600999) , Haitong Securities Company Limited(600837) and China Securities Co.Ltd(601066) also invested more than 1 billion yuan in the field of information technology Gf Securities Co.Ltd(000776) , Anxin securities, Orient Securities Company Limited(600958) , Shenwan Hongyuan Group Co.Ltd(000166) securities, Zhongtai Securities Co.Ltd(600918) and China Industrial Securities Co.Ltd(601377) investment in information technology in 2021 exceeded 500 million yuan.
It is worth mentioning that according to the statistical data of the Securities Industry Association, the average amount of information technology investment in the securities industry in 2020 was 258 million yuan. At present, among the 25 securities companies counted by the above-mentioned reporters, a total of 15 exceed the average number in 2020.
In addition, in the classified supervision of securities companies, the proportion of information technology investment in the operating revenue of the previous year (parent company caliber) has become an important evaluation index. The reporter noted that in 2021, Chinalin Securities Co.Ltd(002945) information technology investment was about 347 million yuan, a significant year-on-year increase of 293.98% compared with 88 million yuan in 2020, accounting for more than 25% of the operating revenue in 2020. In addition, Huatai Securities Co.Ltd(601688) , China International Capital Corporation Limited(601995) , Central China Securities Co.Ltd(601375) , Guolian Securities Co.Ltd(601456) and Zhongtai Securities Co.Ltd(600918) in 2021, the amount of information technology investment accounted for more than 10% of the operating revenue (parent company caliber) in 2020 Orient Securities Company Limited(600958) , Anxin securities, First Capital Securities Co.Ltd(002797) , China Industrial Securities Co.Ltd(601377) and others followed, accounting for more than 8%.
