The director of the research institute became the deputy director! Liu Zhangming was demoted after only one year at Founder Securities
2024-08-10
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Liu Zhangming, who took up the position of director of the research institute of Founder Securities Co., Ltd. (hereinafter referred to as "Founder Securities", 601901) in May last year, was demoted.
On August 9, The Paper reporter learned that Liu Zhangming was no longer the administrative director of Founder Securities Research Institute, but was adjusted to deputy director of the institute. The director of Founder Securities Research Institute was concurrently held by Wu Ke, member of the executive committee and vice president of Founder Securities.
On May 8, 2023, Liu Zhangming officially joined Founder Securities Research Institute and served as director. Before joining Founder Securities, Liu Zhangming worked at Tianfeng Securities for nearly 7 years, serving as deputy director of Tianfeng Securities and chief analyst of the trading industry.
Earlier, information from the official website of the China Securities Association showed that in February 2013, Liu Zhangming joined Shanghai Shenyin & Wanguo Securities Research Institute Co., Ltd. and left in December 2014.
In 2015, Liu Zhangming changed his practice institution to Essence Securities, and his practice position was securities investment consulting (analyst). He left in May 2016.
In the research field, Liu Zhangming is known as the "No. 1 in consumption". According to the official website of New Fortune, Liu Zhangming has been selected as the best analyst of New Fortune in the field of wholesale and retail trade research eight times.
Specifically, in 2014, Liu Zhangming's research team won the fourth place at Shenyin Wanguo Securities. In 2015 and 2016, Liu Zhangming's research team represented Essence Securities and won the third and second place respectively.
In 2017, Liu Zhangming's research team won the second place again on behalf of Tianfeng Securities. From 2019 to 2020, Liu Zhangming achieved the "four consecutive championships" of New Fortune at Tianfeng Securities, ranking first for four consecutive years.
However, on January 5, Liu Zhangming was taken administrative supervision measures by the Hunan Securities Regulatory Bureau and was issued a warning letter for privately recommending stocks in violation of regulations.
"Upon investigation, it was found that Founder Securities leaked the content and opinions of securities research reports before issuing them in the process of publishing securities research reports. Liu Zhangming, as the administrative head of the company's securities research report publishing business department, bears leadership responsibility for the above circumstances," said the Hunan Securities Regulatory Bureau.
The Hunan Securities Regulatory Bureau further pointed out that Liu Zhangming had also illegally recommended stocks to clients and decided to take administrative supervision measures against Liu Zhangming by issuing a warning letter.
On January 5, the Hunan Securities Regulatory Bureau also ordered Founder Securities to correct its mistakes due to issues such as analysts privately recommending stocks to clients in violation of regulations.
The Hunan Securities Regulatory Bureau issued a "Decision on Taking Corrective Measures against Founder Securities" stating that after investigation, Founder Securities had three problems in the process of issuing securities research reports:
First, there are situations where the content and opinions of securities research reports are leaked before they are released.
Second, some securities analysts privately recommend stocks to clients in violation of regulations.
Third, some employees, without obtaining the qualification of securities analysts, publicly released research opinions without review, causing adverse effects.
"According to relevant regulations, it is decided to take administrative supervision measures to order Founder Securities to make corrections." The Hunan Securities Regulatory Bureau further pointed out that "Founder Securities should attach great importance to it, take effective measures to further strengthen the business management, internal control and personnel management of issuing securities research reports, and submit a written rectification report within 30 days from the date of receipt of this decision."
Tian Zhongfang, senior reporter of The Paper
(This article is from The Paper. For more original information, please download the "The Paper" APP)
