[Guangdong Securities Research report Business violation Guangdong Securities Regulatory Bureau issued a warning letter] the Guangdong Securities Regulatory Bureau recently issued a warning letter to Yue Kai Securities because of the following problems in its research and report business: first, there are deficiencies in business management. If the media reporting monitoring mechanism has not been established, the compliance review of conflicts of interest is not in place, some of the media interviews have not been reported by the compliance department, and the internal audit of some stocks into the coverage pool is not in place, there are no corresponding norms for independent research of non-customer service nature and joint research with customer service nature. Second, some of the research reports are not rigorous in the prediction of financial data of listed companies. The above acts violate the relevant regulations. Yue Kai Securities is required to seriously look for and rectify problems, improve the relevant systems and mechanisms of research and reporting business, further strengthen internal control, and effectively improve the level of compliance management in an all-round way.