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the trillion-dollar bond investment advisory business of securities firms will face stricter regulatory measures.

on september 11, the national association of financial market institutional investors (hereinafter referred to as the "nafmii") issued a notice stating that some securities companies, in the process of carrying out investment advisory business serving small and medium-sized banks, have controlled customer transactions, mixed proprietary trading and investment advisory businesses, adjusted returns between different accounts through disguised funding pools, and transferred benefits.

recently, the national association of financial market institutional investors interviewed major securities companies with large investment advisory businesses, urging them to strictly separate different business lines, standardize investment advisory business and service methods, and prevent conflicts of interest and moral risks. the national association of financial market institutional investors said that it will require financial institutions to file investment advisory agreements with the association, and recommend that regulatory authorities strengthen supervision, formulate self-discipline rules related to investment advisory business, and increase the intensity of investigation and punishment of violations.

a non-bank analyst from a securities firm told a reporter from securities china that in the face of stricter supervision, securities firms' bond investment advisory business will most likely have to comply with the regulatory standards of different regulatory authorities at the same time in the future.

the securities association of china interviewed major securities companies

according to the association of trading companies, during self-regulatory management, it was discovered that some securities companies, in the process of carrying out investment advisory business serving small and medium-sized banks, had problems such as controlling customer transactions, mixing proprietary trading and investment advisory businesses, adjusting returns and transferring benefits between different accounts through disguised funding pools.