The Jiangsu Securities Regulatory Bureau recently took administrative regulatory measures against Huaan Securities Jiangsu Branch and its then broker Mao Yong, because the branch had problems including inadequate management of WeCom, inadequate implementation of compliance training, and failure to report major matters in a timely manner. It was ordered to rectify and the matter was recorded in the securities and futures market integrity archive. Mao Yong was also ordered to rectify and recorded in the integrity archive for using WeCom to conduct business in violation of regulations. Huaan Securities' securities department responded that the company and the branch both have corresponding rectification measures. In recent years, Huaan Securities and its branches have been penalized by regulators multiple times for compliance issues, including failure to conduct customer due diligence as required, failure to inspect and evaluate employees' clean practice status as required, and employees using other people's securities accounts to trade stocks.
Huaan Securities Co LtdRegulator ordered rectification for compliance failures, recorded in integrity archive.
