Strict regulation in the securities investment advisory industry: Over 20 units punished for violations within the year.

The securities consultancy industry continues to face strict regulatory oversight. On July 21st, the Heilongjiang Securities Regulatory Bureau issued a warning letter to Rongwei Securities Data Programmed Co., Ltd., requiring the company to complete rectification within three months and submit a rectification report. Earlier, two consultancy agencies, Sichuan Da Jueze Securities Investment Advisory Co., Ltd. and Chengdu Huiyang Investment Advisory Co., Ltd., were ordered to correct their actions by regulators last week. All three securities consultancy agencies mentioned above are found to have similar violations involving misleading marketing promotions. According to the latest information disclosed by the China Securities Regulatory Commission in July, by the end of June this year, a total of 24 securities consultancy agencies or branches have been subject to regulatory measures suspending the addition of new clients.