Research On New Third Board Business Management Issues Of A Securities Company

New third board market’s service is targeted at small and medium enterprises which are growing and innovative, to provide transfer of shares and directional financing services, boost the development of the real economy and new industries. Does the new third board market succeed in providing financing facilitation services for SMEs and optimizing resource allocation? As an intermediary organ, securities company takes a very important part in it.As the host brokerage, securities company is the key to the healthy development of the new third board market, with an irreplaceable key role and status. In 2015, the national equities exchange and quotations took 37 times self-regulatory measures against intermediary organs including the host brokerage, involving 36 violations. A large number of violations of laws and regulations reflect some problems that the host brokerage has not implemented the relevant norms of the system and operation procedures effectively, with ineffective internal risk control and compliance management, as well as the management is weak in awareness of compliance and practitioners lack experience with less rigorous attitudes. This paper focuses on the effectiveness of internal risk control and compliance management of securities companies’ new third board businesses, with the intent of putting forward valuable suggestions about new third board businesses’ risk control on a micro level.Firstly, this paper gives an overview of new third board market and the illegal behavior, which indicates that the quality of listed companies needs to be improved. Combining with irregularities of listed companies and securities companies, these problems reflect the securities companies with weak internal control and ineffective risk control. Secondly, taking the case of the A securities company, the paper analyzes its internal management system, risk control system and business process of recommendation business, supervision business and market-maker business. Finally, this paper puts forward proposals from risk control and business. On the one hand, securities companies should strengthen the risk management system and compliance risk control system; the other hand, securities companies should adjust the strategy to promote business transformation and create synergy between the business sector, diversify profit models.