Xinhua News Agency, June 14, the regulatory authorities recently issued fines for the intensive research business of securities firms, among which the Shanghai Securities Regulatory Bureau issued warning letters to five brokerage analysts; the Shenzhen Securities Regulatory Bureau focused on issuing five decisions on administrative regulatory measures related to the research business of securities firms, and two securities companies and six analysts were named. Combing through the relevant tickets, it is found that taking up the post without a license, the lack of prudence in the production of research and reporting, the business management system of research and reporting and other issues are the focus of supervision. Industry insiders said that high-quality, compliant research and reporting is the basis of securities research and development. At this stage, the regulatory authorities will continue to strengthen supervision and norms, institutions should establish research and reporting from production to release of the whole process of internal control mechanism, and constantly improve the compliance and self-discipline system. (China Securities News)