On July 11, the website of the Beijing Regulatory Bureau of the China Securities Regulatory Commission issued the "Decision on the Administrative Supervision Measures for Beijing PCCW Fund Sales Co., Ltd. to be ordered to suspend the handling of related businesses".
Beijing PCCW Fund Sales Co., Ltd. was ordered to suspend related business for 12 months due to a number of problems in the fund sales business.At the same time, the Beijing Securities Regulatory Bureau took administrative supervision measures to issue a warning letter to the company's general manager Qu Xinyue.
There are many problems in the fund sales business
The Beijing Securities Regulatory Bureau found out that the company has the following problems in the fund sales business.
First, it failed to report to the Beijing Securities Regulatory Bureau that the actual controller was suspected of a criminal offense and that all the shares were frozen, and concealed for a long time that the company was no longer able to operate normally;
The second is that the actual number of employees who have obtained the qualification of fund practitioners is only 1, and the requirement of 20 people has not been met for a long time;
The third is that the fund sales information management platform cannot be guaranteed to operate safely and efficiently, and a disaster backup system and emergency plan that meet the regulations have not been established;
Fourth, the financial situation is poor, and the net assets are negative, which cannot meet the needs of daily operations and risk prevention;
Fifth, the change of office address was not filed with the Beijing Securities Regulatory Bureau in a timely manner.
The above-mentioned problems of the company violated Article 7(4), Article 29, Article 38 and Article 51(1) of the Measures for the Supervision and Administration of Sales Institutions of Publicly Offered Securities Investment Funds (6) provisions.In accordance with the provisions of Articles 53 and 54 of the Measures for the Supervision and Administration of Sales Institutions of Publicly Offered Securities Investment Funds, the Beijing Securities Regulatory Bureau has decided to order the company to suspend the relevant business (all businesses involved in Article 54) 12 months of administrative supervision measures.
According to the relevant provisions, the company’s suspended business includes: accepting applications from new investors to open trading accounts; signing new sales agreements to increase sales of new products; handling public fund share subscription, subscription or private fund share participation.When these businesses are suspended, businesses such as account cancellation, redemption, transfer of custody and transfer out can be handled.
As the general manager of the company, Qu Xinyue is responsible for the above problems.According to the provisions of Article 53 of the "Measures for the Supervision and Administration of Sales Institutions of Publicly Offered Securities Investment Funds", the bureau has decided to take administrative supervision measures of issuing a warning letter to it.
The actual controller has the situation that the equity is frozen
Tianyancha data shows that Zhanying Investment Holdings Co., Ltd. holds 100% of Beijing PCCW Fund Sales Co., Ltd.The latter has a registered capital of 30 million yuan, and the former has a subscription amount of 30 million yuan.
Zhanying Investment Holdings Co., Ltd. has a situation where its equity has been frozen.From October 18, 2018, the 30 million yuan equity of Beijing PCCW Fund Sales Co., Ltd. held by Zhanying Investment Holdings Co., Ltd. has been frozen.
