just!The CSRC responded rare on the market, this rumor is not true!Brokerage stocks rose straight, 5

In response to some media reports that "the CSRC requires foreign investment banks to report the details of the salary of executives and put forward the news that the executives should not be given too high salary."

The person in charge of the relevant departments of the CSRC stated that the report was false news. The person in charge pointed out that the salary system is an important part of corporate governance. Building a scientific and reasonable compensation system is the basis for maintaining the core competitiveness of the industry and the basis for maintaining the steady and sustainable development of the industry. The global regulatory authorities have paid more attention to the relevant system of compensation incentives in recent years in order to prevent financial risks caused by excessive speculation and excessive incentives.

The person in charge of the relevant departments of the CSRC said that in recent years, the CSRC has approved 11 foreign -funded securities fund companies to operate well in the overall operation of the Chinese institution.

Affected by this news, the original vulnerable A -share disk was full of efforts, and the broader market continued to rise from the low point. The brokerage sector rose straight. Everbright Securities achieved a 5 -day daily limit of 5 days. As of the close, the three major A -share indexes turned red. The Shanghai Index rose 1.02%, the Shenzhen Index rose 0.2%, and the GEM index rose 0.07%. In terms of transaction volume, the turnover of the Shanghai and Shenzhen cities exceeded 1 trillion yuan for the third trading day in consecutive trading days.

Foreign capital has also returned. Earlier, it once had a net outflow of over 3 billion. As of the close, the net purchase of funds in the north was 3.944 billion yuan.

In addition, the global market rebounded, US stock futures increased, the Nasda Index futures rose 1.7%, the S & P 500 index futures rose 1.3%, and the Dowed futures rose by 1%. FTSE China A50 Index futures increased to 1%. Bitcoin rises, once recovered the $ 23,000/mate. The offshore RMB has risen to the US dollar, rising over 500 points in the day, and is now reported to 6.7321; the shore RMB against the US dollar continued to rise, rising over 350 points within the day, and now reported to 6.7178.

Report on salary reports of rumors and control of rumors and control of the CSRC

Recently, some media reported that the China Securities Regulatory Commission held a meeting in Shanghai and Beijing this year, asking foreign investment banks to report the details of the salary of executives and proposed not to give the executive too high salary. This is unprecedented news.

The person in charge of the relevant departments of the Securities and Futures Commission pointed out that the CSRC, the relevant Securities Regulatory Bureau and the Industry Association have not held the above meeting. The salary system is an important part of corporate governance. Building a scientific and reasonable compensation system is the basis for maintaining the core competitiveness of the industry and the basis for maintaining the steady and sustainable development of the industry. The global regulatory authorities have paid more attention to the relevant system of compensation incentives in recent years in order to prevent financial risks caused by excessive speculation and excessive incentives. In the 2008 financial crisis lesson lessons, the financial crisis of the Financial Stability Council stated: "The high salary of large financial institutions is based on short -term high profits, ignoring the long -term risks of financial companies, which is one of the main factors that lead to the financial crisis." Europe and the United States and other countries and international organizations have formulated relevant regulatory systems and rules for the management of compensation in the financial industry, such as the "Principles of Stable Salary Practice", the EU issued "Fourth Capital Requirements instructions", the Federal Reserve's "Financial "Enterprise remuneration policy supervision plan" shall supervise the salary of financial practitioners to avoid excessive speculative behaviors to obtain high salaries.

To guide industry institutions to establish a stable salary system, improve the compensation incentive and restraint mechanism, and promote the high -quality development of the industry. Recently, the regulatory authorities will be in the industry associations to fully listen to the industry opinions and suggestions, and the securities industry associations and fund industry associations have issued a salary management guidelines respectively. The core system includes: strengthening long -term incentives and constraints, implementing salary delay payment arrangements arrangements Essence It is clear that it is not allowed to carry out business through drying and personnel, and the salary income of the employees will not be directly linked to the project income they undertake or contract. Establish and improve core employee bonuses and investment mechanisms such as business management and fund managers, and implement a system for recovery and deduction of illegal responsible personnel. Support the securities fund industry to explore the implementation of a variety of long -term incentives and constraints, and weaken the proportion of assessment of indicators such as scale ranking, short -term performance, income profit and other indicators.

The above -mentioned person in charge pointed out that in recent years, in accordance with the unified deployment of the national financial industry to the outside world, the CSRC adheres to the principles of marketization, rule of law, and internationalization, relaxation and cancellation of foreign -funded restrictions on securities fund operation institutions, and 11 foreign -funded holding securities have been approved. Fund companies, the overall development of the Chinese institutions is good, the CSRC is uniformly supervised according to laws and regulations, and fully respects the autonomy of the institutional operating decision -making autonomy.

The lift of the stock market in the A -share disk is obvious

Affected by this news, the A -share market rose significantly. The Shanghai Index fell nearly 2%, and once lost the 3200 -point mark. Red, the Shanghai index rose more than 1%. As of the closing, the three major indexes of the A -shares turned red, the Shanghai Index rose 1.02%, the Shenzhen Index rose 0.2%, and the GEM index rose 0.07%.

The brokerage stocks also staged a pioneer in rebound. The index in the market rose straight. As of closing, Caida Securities, Hongta Securities, Everbright Securities, CITIC Investment, Great Wall Securities daily limit.

Driven by the rising of the securities firm, bank stocks rose. As of the close, Lanzhou Bank daily limit, Jiangsu Bank, Xiamen Bank, Jiangyin Bank, Ruifeng Bank, Zhangjiagang Bank, Zhejiang Commercial Bank, Qilu Bank, etc.

In addition, the global market rebounded, US stock futures increased, the Nasda Index futures rose 1.7%, the S & P 500 index futures rose 1.3%, and the Dowed futures rose by 1%. FTSE China A50 Index futures increased to 1%. Bitcoin rises, once recovered the $ 23,000/mate. Domestic securities firms salary management rules have been released

As mentioned above, recently, the China Securities Industry Association and the China Fund Industry Association have issued a salary management guidance, which reflects the basic ideas of respecting the basic laws of the market, based on the actual situation of the industry, the main responsibility of compacting the institution, and preventing short -term excessive incentives. The purpose of consolidating the management of the industry's development, the foundation of risk control, the foundation of compliance, the foundation of the cultural basis, and the talent foundation of the industry, it is better to effectively serve the real economy and prevent financial risks. There is no salary limit, nor does it involve the total salary and specific operation methods.

In the "Guidelines for Establishing a Salvation Salary System" issued by the China Securities Association, it is clearly required that the securities company should formulate a stable salary plan in combination with the characteristics of the industry when formulating the salary system, and fully consider the impact of market cycle fluctuations and industry and company business development trends. Smooth salary distribution arrangement.

In response to the salary of the "leadership", the "Guidelines for the Establishment of a Stable Salary System" stipulated that when the securities company formulates the salary system, it shall Business personnel establish a deferred payment mechanism for compensation, and clarify the application of applicable conditions, payment standards, years and proportion. The delay payment period should be matched with the risk duration of the relevant business, and the deferred payment speed shall not be faster than the equivalent ratio.

Relevant analysts from Soochow Securities said that the personal income of senior managers in the salary distribution is closely linked to the company's overall operating performance and personal business performance, combining incentives and constraints, and implementing salary distribution based on relevant assessment results.

The "Guidelines for Performance Evaluation and Salary Management" (referred to as "Guidelines") issued by the China Securities Investment Fund Industry Association (referred to as "Guidelines"), which put forward requirements for the salary structure, salary payment, performance assessment, and salary internal control management of public fund companies.

On the one hand, the deferred payment period is stipulated to maintain the stable structure of the personnel. The "Guidelines" focuses on the role of performance assessment and compensation management in the company's risk management and control. It stipulates that the delay payment period and deferred payment amount of performance compensation shall be consistent with the long -term interests of the fund share holder and business risk. With a period of no less than 3 years, the deferred payment speed should not be faster than the equivalent ratio. The "Guidelines" also stipulates that the scope of the applicable personnel of the delayed payment system for performance salary includes but not limited to the chairman, senior managers, heads of major business departments, heads of branches, and core business personnel. At the same time, the delayed payment of key positions such as senior management personnel and fund managers is not less than 40%in principle.

On the other hand, implement a long -term assessment mechanism and strengthen the protection of investors' interests. The "Guidelines" stipulates that fund management companies should establish a scientific performance assessment index system, and the performance assessment indicators should include: economic benefits, compliance wind control indicators, and social responsibility indicators. The economic benefits indicators should reflect the assessment of long -term cycle for more than 3 years, the actual profitability of investors, and the construction of professional capabilities; compliance wind control indicators should include the construction of compliance and risk management mechanisms, compliance events or major risks. The situation, the security operation of the information system, the employee's integrity; the social responsibility indicators should include moral standards, corporate value, and customer satisfaction. The diversification of the assessment indicators and the stretching period of the assessment can effectively encourage fund managers or to obtain returns through long -term holding high -quality companies to avoid frequent game markets to pursue short -term performance, which is conducive to reducing the reduction of the volatility of the capital market.

In addition, the "Guidelines" also uses the incentive and restraint mechanism to unify the interests of all parties. It stipulates that the senior managers and heads of the fund company and the head of the main business department shall purchase the public fund managed by the company's management of not less than 20%of the performance salary of the year. Fund must not be less than 50%. Fund managers should purchase public funds managed by the company's management of not less than 30%of the performance salary of that year, and should give priority to purchasing public funds I managed.

Haitong Securities Research reports that self -purchase funds can effectively realize the binding of the company's senior managers, heads of major business departments, and the interests of fund managers and the interests of holders, and better incentive and restrict the behavior of relevant personnel. The "Guideline" is conducive to improving the industry's long -term incentives and restraint mechanisms, improving the ability of the public fund industry to serve capital market reform and development, serve the wealth management of residents, serve the real economy and national strategy, and accelerate the high -quality development of the public fund industry.

Responsible editor: tactics

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