“Hong Kong has become an important window for mainland funds to allocate overseas assets，In order to compete for this piece of fat，Mainland institutions have gone south to apply for brokerage licenses in Hong Kong，Currently, the Mainland has become a large group of shareholders controlling Hong Kong licensed corporations.。Competition is fierce，Business is difficult，In recent years, many local securities firms in Hong Kong have been selling，Sold to mainland securities firms，Securities firms with full licenses are particularly popular，But at the same time, different problems arise。
Because the China Securities Regulatory Commission requires that when applying for a license，There must be at least two responsible officers (Responsible Officer)。But recently some small local securities firms，Even packaged and sold，Package includes two responsible persons who are not required to work。The Securities and Futures Commission expressed concern about the situation。Need to cooperate with the Mainland Securities Regulatory Commission，Strengthen supervision。
People in the securities industry expressed their opinions on Zhitong Finance，Not long ago, the China Securities Regulatory Commission strengthened the accountability of senior management of securities companies.，
Require
Brokerages are required to submit a list of eight core functional managers，It may be that they hope to let the securities companies appoint the real person in charge，Dummy person in charge of supervision。But I think this may not be useful，Instead, it hurts small securities firms。
Local securities firms are selling orders. Mainland securities firms currently account for 13%. Although the ties between the mainland and Hong Kong capital markets have strengthened,，The water from the north flows south one after another，Bringing business to Hong Kong’s capital market，However, it is also accompanied by the influx of large amounts of mainland funds into the securities industry.，Competition is getting fiercer。According to Zhitong Finance,，The total number of licensed corporations increased by 11% last year to over 2,400，The number of applications for new corporate licenses has increased by as much as 50%。As of March this year, the number has increased to nearly 2,500。
However, the total operating income of licensed corporations fell by 11% last year.，Total net profit also decreased by 51%。Engage in different financial activities in Hong Kong，To apply for different licenses from the Securities and Futures Commission，and stipulates that companies applying for licenses，Two less responsible officers must be appointed to directly supervise the relevant activities。Because some well-capitalized mainland securities firms，Hope to save time and effort，will directly acquire companies holding licenses。
Therefore, some fully licensed local securities firms，Successfully acquired by mainland institutions。For example，Last year, Hong Kong's fully licensed securities firm Quam International was acquired by Oceanwide International Financial, a subsidiary of Mainland China's Oceanwide Group, for about 1.097 billion yuan.。According to Zhitong Finance,，Mainland China has surpassed the United States，Become a large group of shareholders controlling a Hong Kong licensed corporation。among all licensed corporations，About 13% are controlled by mainland companies。
With the influx of mainland capital into Hong Kong，Roll up your sleeves and want to get a share of the Hong Kong brokerage industry，But it also gives rise to other problems。Large established securities firms are having operational difficulties，Not to mention some small brokerages。Liang Fengyi, executive director of the Intermediary Department of the China Securities Regulatory Commission, said recently，Some small and inactive securities firms，The nominal responsible persons will be sold together.，The selling price is only a few million yuan。Then hire a nominally responsible person with a monthly salary of tens of thousands of yuan，And they don't have to go to the office to work。
Liang Fengyi said，This situation makes the Securities Regulatory Commission uneasy，and warns that if there is a problem with the securities firm，These responsible persons need to be responsible and bear the consequences，The license may even be revoked。In the future, we will cooperate with the China Securities Regulatory Commission to strengthen supervision. The Hong Kong Securities Regulatory Commission stated that，Cards will only be dealt to "appropriate persons"。Because in the past, applicants for securities dealer licenses were mainly familiar to the Hong Kong securities industry.，Therefore, it is easier for the China Securities Regulatory Commission to assess and track whether they are qualified for review.。
But recently, more and more people come from the mainland，Those who have no experience in the securities industry in Hong Kong，Want to establish or acquire a brokerage firm and asset management company in Hong Kong，Therefore, these application cases need to be reviewed in more detail，It is necessary to contact the China Securities Regulatory Commission and other regulatory agencies，collaborate more closely。
To enhance the accountability of senior management of licensed corporations，and increasing senior management's awareness of their responsibilities under the current regulatory regime.，The China Securities Regulatory Commission introduced new measures in April this year，
Require
Relevant agencies submit the heads of eight core functions，More budget proposals for 2017/2018，The agency department also created eight new positions，To handle the significant increase in new corporate license applications and the new core function supervisor system。
The specific classification is as follows：This is regarded by the industry as a tactic to make the "boss behind the scenes" appear.，However, some securities dealers believe that，This is a good idea，But the results may not be ideal。Liang Chongrang, vice president of the Hong Kong Securities and Futures Employees Union, told Zhitong Finance，Brokerage violations have increased recently，China Securities Regulatory Commission adopts new measures，Classify violations，and stipulate that there must be relevant responsible persons，I believe it is to make the responsibilities clearer and more concrete.。
he thinks，This measure will have little impact on major banks and larger companies，But it may drag down some small and medium-sized securities firms。Because these brokerages may have less than ten employees in the company.，But now we need 8 core functional managers，Procedures and expenses create disruption。Some people in the securities industry believe that，The new measures have a good starting point，But after defining the responsibilities，It may also lead to each family sweeping the snow in front of them.。
When something goes wrong in the business，If it is not within your own responsibility，Just turn a blind eye，avoid trouble，Leading to the actual effect being greatly reduced。The person does not believe that this measure can identify the "boss behind the scenes"，Because mainland securities companies have enough funds to hire different people to be responsible personnel，No need to show up yourself at all。”
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