CSRC: Some securities firms' investment bank fee system needs to be strengthened.

Recently, it was reported that the China Securities Association issued a "Notice on the Examination of the Integrity and Pricing Self-Discipline of Securities Companies' Investment Banking Business by 2025" to securities firms. The notice stated that the system and mechanism of investment banking business fees need to be strengthened. Some companies have not clearly defined or agreed on the standards for collecting continuous supervision fees as required; a few companies have not timely submitted principles for underwriting business fees to the China Securities Association, as well as underwriting agreements and fee information for projects; and a few companies have not timely updated their internal fee systems as required. The China Securities Association stated that all securities firms should learn from this, self-examine, rectify in a timely manner, and effectively enhance the level of integrity and compliance management, and prevent and control risks related to integrity and compliance. Furthermore, they should reasonably charge fees in underwriting and distribution business, and carry out integrity and pricing management in investment banking business in accordance with laws and regulations.