China Securities Association: Institutions in the securities industry need to improve issuance and pricing capabilities and standardize the behavior of providing quotation reports

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 Titanium Media App reported on August 1 that the 7th China Securities Association Securities Analysts and Investment Advisory Professional Committee held its first plenary meeting in Guiyang. An Qingsong, secretary of the association’s party committee and chairman, pointed out that the reform of the registration system is fundamental to the capital market. Institutional reform involves profound changes in regulatory concepts and systems, and the reshaping of institutional capabilities and responsibility systems in the securities industry. Institutions in the securities industry need to continuously strengthen capacity building and strengthen responsibility requirements. The first is to improve the issuance and pricing capabilities and standardize the behavior of providing price reports. The marketization of issue pricing is one of the major changes brought about by the registration system. Sell-side research on securities companies provides issuers with value-added services and the basis for price discovery, and at the same time reflects issue pricing capabilities and competitiveness. The committee should take the improvement of the professional level of the bidding report as one of the key tasks, further standardize the formation process of the bidding report, prevent conflicts of interest, and play the role of the bidding report as the "anchor" in the issuance and pricing. The second is to strengthen the team building of analysts and investment consultants, and build a professional reputation incentive and restraint mechanism for practitioners. The services provided by securities analysts and investment consultants involve the vital interests of the majority of investors. Their words and deeds are widely concerned by the market, and they need to have high moral standards and social responsibility requirements. With the advancement of the comprehensive and deepening reform of the capital market, the committee should promote industry institutions to pay more attention to cultivating professional talents, carry forward the core socialist values, strengthen the construction of industry culture of compliance, integrity, professionalism and stability, and cultivate and cultivate " The cultural heritage of "loyal and professional" talents. Establish and improve the reputation incentive and restraint mechanism, strengthen the whole-process management of reputation information of analysts and investment consultants, explore the establishment of a reputation capital accumulation system, and create an industry atmosphere that cherishes professional reputation. The third is to strengthen the research and exploration of managed investment advisors to provide support for deepening investment-side reforms.

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