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According to the functions of securities management companies, they can be divided into: securities brokers, that is, securities brokerage companies. Securities institutions that buy and sell securities accept the entrustment of investors to buy and sell securities on their behalf, and charge a certain commission, such as Soochow Securities Suzhou Sales Department and jianghai securities Brokerage Company. Brokers, that is, comprehensive securities companies, in addition to the authority of securities brokerage companies, can also buy and sell securities on their own. They are well-funded and can directly enter the exchange to buy and sell stocks for themselves. Such as Guotai Junan Securities. Securities underwriter, an institution that helps issuers sell securities in the form of underwriting or consignment. In fact, many securities companies operate these three businesses at the same time. According to the current practice in various countries, all member companies of a stock exchange can conduct proprietary trading in the trading market, but few securities companies specialize in proprietary trading. In addition, some certified innovative securities companies also have the authority to create warrants, such as CITIC Securities. A securities registration company is a service organization for centralized registration and transfer of securities. It is an indispensable part of securities trading and has the nature of administrative management. It must be examined and approved by the competent authority before it can be established.
A securities company shall establish and improve its internal control system and take effective isolation measures to prevent conflicts of interest between the company and its customers. Securities companies must engage in securities brokerage business, securities underwriting business, securities proprietary business and securities assets business respectively, and may not operate in a mixed way. The trading settlement funds of clients of securities companies shall be deposited in commercial banks and managed by opening separate accounts in the name of each client. A securities company shall not classify the trading settlement funds and securities of its customers into its own property. It is forbidden for any unit or individual to misappropriate customers' trading settlement funds and securities in any form. When a securities company goes bankrupt or liquidates, the customer's transaction settlement funds and securities do not belong to its bankruptcy property or liquidation property. Except for the customer's own debts or other circumstances stipulated by law, the customer's transaction settlement funds and securities shall not be sealed up, frozen, deducted or enforced.