After investigation, the Securities Regulatory Commission discovered that GF Securities Co., Ltd. had problems such as insufficient independence of the quality control department and irregular project fees. The above situation violated the provisions of Article 6 of the “Measures for Compliance Management of Securities Companies and Securities Investment Fund Management Companies” and sections 5 and 22 of the “Internal Control Guidelines for Investment Banking Businesses of Securities Companies”. According to the provisions of Article 32 of the Compliance Measures, the Securities Regulatory Commission decided to take administrative supervision and management measures to issue a warning letter against the company. The company should strengthen internal control and management of investment banking business and hold relevant responsible personnel internally accountable.

After investigation, the Securities Regulatory Commission discovered that GF Securities Co., Ltd. had problems such as insufficient independence of the quality control department and irregular project fees. The above situation violated the provisions of Article 6 of the “Measures for Compliance Management of Securities Companies and Securities Investment Fund Management Companies” and sections 5 and 22 of the “Internal Control Guidelines for Investment Banking Businesses of Securities Companies”. According to the provisions of Article 32 of the Compliance Measures, the Securities Regulatory Commission decided to take administrative supervision and management measures to issue a warning letter against the company. The company should strengthen internal control and management of investment banking business and hold relevant responsible personnel internally accountable.