CSRC: Issued a warning letter to Zhongtian Guofu Securities as a regulatory measure

Zhongtian Guofu Securities was issued a warning letter by the China Securities Regulatory Commission (CSRC) for violations including inadequate internal controls on bonds, non-standard issuance and underwriting practices, and failure to fulfill entrusted management responsibilities. Specific violations include insufficient performance in quality control review, inadequate analysis and verification of significant risk factors such as fluctuations in the issuer’s financial data, and failure to strictly manage the book-building现场. These actions violate the “Guidelines for Internal Controls of Securities Companies’ Investment Banking Business” and the “Measures for the Administration of Corporate Bond Issuance and Trading.” (CSRC)