The Measures for the Administration of Appropriateness of Securities and Futures Investors specifically stipulates the regulatory measures that should be taken by operating institutions when they violate the provisions on appropriateness management, including but not limited to: (1) If operating institutions violate the provisions of the Measures for the Administration of Appropriateness of Securities and Futures Investors, the China Securities Regulatory Commission and its dispatched offices can take regulatory measures such as ordering operating institutions and their directly responsible supervisors and other directly responsible personnel to make corrections, conducting regulatory talks, issuing warning letters, and ordering them to attend training. (2) If a securities company or futures company violates the provisions of the Measures for the Administration of the Suitability of Securities and Futures Investors and there are significant risks or hidden risks, the China Securities Regulatory Commission and its dispatched offices may take supervision and management measures according to the provisions of Article 70 of the Regulations on the Supervision and Administration of Securities Companies and Article 55 of the Regulations on the Administration of Futures Trading. (3) Violating the relevant provisions of the Measures for the Administration of the Suitability of Investors in Securities and Futures, failing to understand investors' information when selling products or providing services to investors, failing to reasonably classify the risk level of products or services, failing to fulfill relevant duties and care obligations when investors insist on purchasing products with risk levels higher than their affordability, and failing to actively adjust investors' classification, product or service classification and suitability matching opinions when the situation changes. Selling or providing prohibited products or services to investors, failing to inform relevant information or providing false information before selling products or providing services, shall be handled in accordance with the provisions of Article 137 of the Securities Investment Fund Law, Article 84 of the Regulations on the Supervision and Administration of Securities Companies and Article 67 of the Regulations on the Administration of Futures Trading.

rules and regulations

(1) Classify investors according to multiple dimensions; (2) Establish a product grading mechanism with strict risk control; (3) Emphasize the special protection for ordinary investors; (4) It emphasizes the supervision responsibility of securities companies, third-party sales and other intermediaries, and stipulates the corresponding accountability system; (5) Emphasized the principle of appropriateness: Appropriateness refers to "the degree to which the financial products or services provided by operating institutions are in line with the financial situation, investment objectives, risk tolerance level, financial needs, knowledge and experience of customers".

Impact on investors

For ordinary investors, while taking into account the risk underwriting ability, they have not lost their right to choose independently. In the future, investors need to provide information when purchasing products and receiving services. If the information provided is untrue, inaccurate and incomplete, investors should bear corresponding legal responsibilities according to law, and operating institutions should refuse to sell products or provide services to them. At the same time, it is necessary to "double record" when opening some high-risk businesses such as credit business, New Third Board, Growth Enterprise Market, graded funds, options and delisting transactions that are beyond investors' risk tolerance.