New rules on risk management in securities companies
New rules on risk management in securities companies
Brokerage companies must set up a risk management system to manage at least four types of major risks (in the areas of the market, settlement, liquidity and operational risk), according to new draft guidelines from the State Securities Commission (SSC).
The new draft guiding on risk management at securities companies required them to report on their business results, including information on new products along with major potential risks and their impacts on the company's overall risk situation. They must ensure in principle that all businesses have pre-defined risk limits.
Securities companies must report to the SSC prior to January 31 and July 30 every year on their business operations and risk management.
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