The Securities Regulatory Commission issued a decision on October 18 to adopt regulatory dialogue measures against CITIC Construction Investment Securities Co., Ltd. and Liu Naisheng. After investigation, the Securities Regulatory Commission found that CITIC Construction Investment Securities Co., Ltd. violated the provisions of section 6 of the “Compliance Management Measures for Securities Companies and Securities Investment Fund Management Companies” due to insufficient due diligence in some projects; failure of the core to pay sufficient attention to project risks; internal controls were not re-approved after disclosing the actual revisions to the prospectus. As an investment banking executive, Liu Naisheng is responsible for the above issues.

The Securities Regulatory Commission issued a decision on October 18 to adopt regulatory dialogue measures against CITIC Construction Investment Securities Co., Ltd. and Liu Naisheng. After investigation, the Securities Regulatory Commission found that CITIC Construction Investment Securities Co., Ltd. violated the provisions of section 6 of the “Compliance Management Measures for Securities Companies and Securities Investment Fund Management Companies” due to insufficient due diligence in some projects; failure of the core to pay sufficient attention to project risks; internal controls were not re-approved after disclosing the actual revisions to the prospectus. As an investment banking executive, Liu Naisheng is responsible for the above issues.