Zhejiang Securities Regulatory Bureau: Taking corrective measures to Zhejiang Securities Co., Ltd.

On March 13, the Zhejiang Securities Regulatory Bureau website issued a decision on imposing corrective measures on Zhejiang Securities Co., Ltd. After investigation, the company was found to have the following issues: some core business positions did not have 2 years of experience in custody business, the custody office was not independent, the supervision standards and processes for fund investment were not perfect, and the practices of the custody department employees and fund management were not sound; the company did not manage the compliance of its asset management subsidiary, private equity fund subsidiary, and alternative investment subsidiary well. According to relevant regulations, the Zhejiang Securities Regulatory Bureau decided to impose corrective administrative supervision measures on the company and record it in the integrity file of the securities and futures market.