Multiple securities firms are steadily clearing out brokers in accordance with regulatory requirements, reducing staff by nearly 12,000 in a year and a half.

Reporters learned from the industry that there are differences in the industry's enforcement efforts regarding the expulsion of brokers. Some local bureaus emphasize standardizing the expulsion process, but there is no unified timetable, and regulatory authorities will inspect the standardization of the expulsion process in the future. It is worth noting that as early as 2023, regulatory authorities have conveyed to the industry that they should comply with the direction of wealth management transformation and gradually reduce and clear out the existing brokers. The changes at the data level are already very obvious. Since 2025, the number of securities brokers in the brokerage industry has decreased by nearly 12,000. Public data shows that as of the end of 2025, there were 22,400 securities brokers in the industry; by the end of the first half of 2026, this number had dropped to about 17,500, with a decrease of about 5,674 in just the first half of the year, a decrease of more than 20%.