Brokerage firms should focus on compliance first in the innovation of business models.

Recently, some brokerage firms have received regulatory warning letters for violations in securities live streaming, attracting widespread attention. Currently, the financial sector is experiencing active innovation, with new formats and models developing rapidly, which also brings about new business risks. Taking securities live streaming as an example, with the acceleration of digital transformation, securities live streaming as an emerging business model has brought many opportunities for brokerage firms. Live streaming breaks through the limitations of time and space, and through real-time interaction, promptly answers investors' questions, enhancing investor stickiness. At the same time, live streaming can also conduct investor education in a vivid way, helping investors better understand the market. Especially for the younger generation of investors, this intuitive and real-time way of obtaining information is more in line with their information receiving habits, helping brokerage firms expand a broader customer base and achieve diversified business development.