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What are the illegal securities activities?
Legal subjectivity:

According to what you said, illegally engaging in securities business activities refers to engaging in the following activities without the approval of the CSRC: (1) securities and futures brokerage; (2) Securities, securities investment funds and futures investment consulting; (3) Financial advisers related to securities trading and securities investment activities; (4) Securities underwriting and sponsorship. (5) Management of securities assets; (6) Raising and management of securities investment funds. (seven) other illegal securities business activities identified by the China Securities Regulatory Commission according to law.