Fry the system collapse?Two brokerages were fined, one also “deleted files” and did not back up

2022-07-17 0 By

Beijing Capital Securities was ordered by the Beijing Securities Regulatory Authority on April 7 to correct regulatory punishment after a partial interruption of its centralized trading system nearly a year ago affected trading for about 20 minutes.Similarly, on April 2, China Merchants Securities also due to centralized transaction return system processing delays and other problems such as faults, by the Shenzhen Securities regulatory Bureau ordered correction of punishment.Information system is the basis for securities firms to carry out various business, and more and more securities firms are increasing the amount of information technology investment year by year to consolidate infrastructure and information security.According to statistics by reporters from National Business Daily, up to now, a total of 25 brokerages have disclosed the amount of information technology investment in 2021, totaling 16.505 billion yuan, among which Huatai Securities has exceeded 2 billion yuan.In addition, Guotai Junan, China International Capital Corporation, China Merchants Securities, Haitong Securities and CITIC Construction Investment will also invest more than 1 billion yuan in information technology in 2021.On April 7, the Beijing Securities Regulatory Bureau issued a decision ordering capital Securities to correct regulatory measures after its trading system was disrupted and the true cause could not be determined.Beijing securities regulatory bureau, said the first securities on May 18, 2021 centralized trading system breaks down, the total impact time about 20 minutes, according to the securities and futures industry information security incident reporting and investigation and handling method “(SFC announcement [2012] no. 46) stipulated in article 12, the events to larger information security standard.It is worth mentioning that afterwards by the securities regulatory bureau survey in Beijing, discovered the first securities information technology department relevant personnel in the process of emergency disposal to delete the log and database information, and not for backup, always can’t determine the true cause of the information security incident, the first securities not truthfully report the emergency in the first report misconduct.The regulator said the problems reflected deficiencies in Beijing Capital securities’ information security management and response to information security incidents, and decided to take administrative measures to order the company to rectify the situation.Capital Securities shall conduct a comprehensive self-examination of problems related to information security, effectively improve the system operation and maintenance support ability and failure cause investigation ability, improve the information security emergency handling mechanism, strengthen the training of information technology personnel, ensure their ability to perform duties, and prevent similar problems from happening again.The main businesses of securities companies are highly dependent on information system. Information technology system is an important carrier for securities companies to carry out various businesses and runs through all aspects of management of securities companies.Pioneering securities issued in January this year starting in the prospectus “admitted that companies cannot be completely ruled out information system software and hardware failure, system vulnerabilities, communication interrupt, virus or hacker attack, such as data loss or leak emergency, possibly because of failure to timely and effectively improve the upgrade information technology system and lead to can’t meet the needs of the company’s business,Thus, it may adversely affect the company’s reputation, competitiveness and business performance.”Compared with domestic first-class securities companies, the company has problems in information technology, such as insufficient professional talents and insufficient capital investment. Therefore, the company plans to use the raised funds to strengthen the construction of information technology system and provide powerful information technology support for the coordinated development of the company’s various businesses.”Capital securities said in its ipo prospectus.”China Merchants securities collapse” rush hot search is referred to emergency disposal is not timely coincidentally, on April 2, Shenzhen Securities regulatory Bureau also issued to China Merchants securities to take corrective measures to order the decision.Shenzhen Securities Regulatory Bureau said that China Merchants Securities in the March 14, 2022 network security incident, there are imperfect change management, emergency response is not timely, not in place and other problems.Accordingly, shenzhen securities supervision bureau decides to take the administrative supervision measure that orders correction to merchants securities.”Your company should further strengthen the construction of the important information system overall planning, fully understand the system architecture and internal operation mechanism, strengthen the research and development, test, online upgrade changes and operations management, improve the emergency mechanism, security configuration, key positions and personnel’s professional ability and quantity to ensure the safe and smooth operation of information system;At the same time, your company should carry out internal responsibility investigation for the relevant persons responsible for this incident.Your company should complete the above rectification work and submit the rectification report to our bureau within 3 months.”Shenzhen Securities regulatory bureau further emphasized the way.Review on March 14 this year, “China Merchants Securities collapse” rushed to the hot search.Some netizens said that “China Merchants Securities system can not buy, sell, can not withdraw”, “an hour did not solve the problem”.A netizen said: “I asked the customer service, said that the shenzhen headquarters system failure.”Subsequently, the reporter dialed China Merchants securities “95565 national customer service hotline”, the customer service phone can not be connected.There are also netizens said that in addition to 95565 phone, its account opening department, wealth advisers, online customer service are not answering the phone or can not be contacted.At noon on the same day, China Merchants Securities responded that all trading orders on its centralized trading system had been sent to the exchange system in real time after the market opened on March 14, but due to the delay in processing transaction returns, some customers did not receive transaction return information in time on the client end, which affected the withdrawal of orders.The company is sorry for any inconvenience caused to customers.The problem has been alleviated and other functions of the system are normal.Then on March 15, China Merchants Securities issued a centralized trading system breakdown of the situation.China Merchants Securities said that on March 14, China Merchants Securities centralized transaction return system suffered processing delays and other faults, resulting in some customers did not receive transaction return information in a timely manner, and the cancellation of orders was affected.In this regard, the company immediately mobilized resources, emergency investigation, repeated verification, testing, the fault has been removed, system services back to normal.In the context of the rapid development of fintech, the securities industry attaches more importance to information technology, and the investment in information technology is increasing year by year.In 2020, the investment amount of information technology in the whole industry was 26.287 billion yuan, up 21.31% year on year, accounting for 7.47% of the operating revenue in 2019.From 2017 to 2020, the securities industry has invested 84.5 billion yuan in the field of information technology. The continuous increase of investment in the field of information technology has laid a solid foundation for the digital transformation and high-quality development of the industry.At present, the securities industry 2021 annual report is still in the process of disclosure.According to statistics by reporters from National Business Daily, so far, a total of 25 securities firms have disclosed the amount of information technology investment in 2021 in annual reports and other public information, with a total investment of 16.505 billion yuan.Among them, Huatai Securities will invest the most amount of information technology in 2021, reaching 2.228 billion yuan.Huatai securities said the company has always attached great importance to information technology innovation, adheres to the “science and technology source fu can return to financial services, science and technology and business to create a” concept, around the “achievement customers, business innovation, optimizing operation, assigned to employees’ goals, promoting company’s digital transition, strive to build the core competitiveness of science and technology industry.In addition, Guotai Junan, China International Capital Corporation, China Merchants Securities, Haitong Securities and CITIC Construction Investment in the field of information technology investment amount of more than 1 billion yuan;Guangfa Securities, Essence Securities, Orient Securities, Shenwan Hongyuan Securities, Zhongtai Securities and Industrial Securities will each invest more than 500 million yuan in information technology in 2021.It is worth mentioning that according to the statistics of the Securities Industry Association, the average investment amount of information technology in the securities industry in 2020 was 258 million yuan.Now, 15 of the 25 brokerages covered by the reporter are above their 2020 average.In addition, in the classified supervision of securities companies, the proportion of information technology investment in last year’s operating income (parent company caliber) becomes an important evaluation index.The reporter noted that in 2021, Hualin Securities invested about 347 million yuan in information technology, up 293.98% year on year compared with 88 million yuan in 2020, accounting for more than 25% of the operating revenue in 2020.In addition, huatai Securities, CICC, Zhongyuan Securities, Guolian Securities and Zhongtai Securities invested in information technology in 2021 accounted for more than 10% of their operating revenue in 2020 (parent company caliber).Orient Securities, Essence Securities, First Capital and Industrial Securities followed, accounting for more than 8%.