| The first professional securities company was established since 1987 in our country. The securities industry has gone through the process of China's economic system transition. It is constantly developed and expanded In the process of Groping for experience. The cumulate problems and risks appeared intensively In the long-term market downturn between 2000 and 2006. According to the statistics, the China Securities industry suffered heavy losses during this time. more than 130 securities firms in the country,there were 31 companies have difficult to continuely operate due to high risk. Rough Statistics thousand billion economic losses, including some prominent largest brokerage, Analysing the reasons of leading to this crisis of domestic brokers: the main reason is that suspension trust management is too large,self-huge debt, misappropriation of clients, external security, market manipulation and other irregularities caused. There are many financial risk cases. such as the United States in 2007 originating from the subprime mortgage crisis into a global financial crisis. So far, still negatively affect the global economy, which like Merrill Lynch, Lehman Brothers and other major international investment banks also went bankrupt in the crisis. There are many reasons behind it, but it is undeniable that the financial institutions as a high-risk industries, high-yield in the face of temptation, there's speculation the subjective sense of compliance against the prudent financial management of the most fundamental concept of capital pursuit of profit and risk control lag, prompting the crisis intensified.Reflect on the lessons learned at home and abroad, and analyzing the characteristics of the securities industry itself, we found that the securities industry and other financial industries are the same in the socio-economic activities, They all got benefit through management or operational risk, they got survival and development in seeking relative balance between risks and benefits. Therefore, Compliance management has become a dominant ideas in Global financial industry at present. Compliance management is not only related to the financial survival of their own, and also lead to systemic financial risks, impact of national financial security and social stability.Based on attaching importance to compliance management, the Basel Committee on Banking Supervision issued a "compliance department within the bank" file in October 2003, as guiding document in many countries and regions. In April 2005, Basel Committee also issued on the basis of the document of "compliance with the bank's internal compliance department" file, in the world had a profound impact. China's financial industry have followed their own guidelines for the introduction of compliance work documents, following the CBRC, CIRC, China Securities Regulatory Commission issued the "Securities Compliance management pilot requirements" of the domestic securities companies compliance management organizational system, management system has made the framework requirements.Operational risks of the securities company as a financial institution, and its basic business is to manage risk. Compliance risk is only in recent years to separate from the operational risk is a risk, but not limited to operational risk, it also includes part of the legal risk and moral hazard of the contents of the main compliance risk and its implications for securities companies staff, management or practice in violation of laws, regulations or guidelines leaving the Securities subject to legal sanctions, regulatory measures were taken, suffered property damage or loss of reputation risk.From the theory point of view, although the compliance of foreign ideas and practices to achieve certain results, but for security compliance management study has for centuries on the large investment banks, with capital in emerging markets do not systematically study, while the domestic-related theory is just stop at the definition of the concept and elaborate on the theory, based on internal compliance of securities companies original research is relatively small. This paper hopes the concept of compliance management, corporate governance theory, internal control theory analysis, and try to digest the three theories to the securities company's daily operations and compliance work.The author's first batch of pilot Qilu Securities as one brokerage compliance, since 2007 implemented a series of compliance management businesses, see the compliance aspects of the securities in the nation's first line broker, the paper by Qilu Securities Compliance system construction analysis, the analysis of specific cases of violations, summary of management experience and lessons from abroad, especially the financial industry, securities industry compliance management experience, control risk, to identify the prevalence of domestic securities industry, common problems, and on how to build effective domestic brokerage compliance management mechanism, put forward their own research ideas, that the domestic securities companies have to continue to raise the importance of compliance, not only "high level of compliance from compliance to start" making full use of compliance value-driven, the process of compliance as a result, instead of. Is a task. China's securities companies want to irregularities in the governance and improve compliance management system, and provide some useful suggestions and ideas, which is the subject of this writing.Innovation of this paper is that the establishment of a sound compliance system is the overall risk management of securities companies is very important and urgent research in an important part, through compliance management is an important guarantee to enhance corporate value. So, I think it should be compliance with corporate governance, internal control combine, rather than the fragmented management, I think the past will be split three full management, securities companies control failure leading to an important reason. Reasonable level of compliance management division, optimize the existing organizational structure of compliance management, compliance management into the corporate governance and internal control in all aspects, to achieve different levels of effective links, so that compliance is more fit in the securities industry development.Another innovation of this view is that the securities company system construction is divided into four levels, namely, decision-making, management, functional layer, business layer, optimizing compliance management structure, so you can get as much as possible the board of directors, management layer and the support functions, thereby enhancing the security compliance management effectiveness. |
PDF Full Text Request