Multiple Securities Regulatory Offices Expose Fake Licensed Institutions

Many fund companies, securities firms, and investment advisory institutions have told reporters that their institutions have tightened their authorization for "affiliation", and will not "accommodate" unqualified bloggers. Reporters have noticed that many local securities regulators have issued risk warnings against "fake licensed institutions". In February of this year, the Shenzhen Securities Regulatory Bureau and the Shenzhen Local Financial Management Bureau published a list of "entities without the qualifications for legal securities, futures, and fund management operations". The list shows that as of the disclosure date, there are no fewer than 2108 institutions in Shenzhen with names or business scopes containing words such as "fund management", "private placement", "securities" but have not obtained operating licenses or registered according to regulations. In addition, regulators in Ningbo, Sichuan, and other regions have also disclosed similar lists of companies.