Urumqi Bank was ordered to correct issues related to fund sales operations.

LightningPacketLoss · 2026-03-11T03:42:46+00:00

The Xinjiang Securities Regulatory Bureau has issued a correction order to Urumqi Bank due to multiple violations in its fund sales business, including failure to report the responsible person's appointment materials, departure review reports, and assessment indicators. The bank is required to submit a rectification report within 30 days and strengthen compliance management.

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2026-03-11 03:42:46

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On March 2nd, the Xinjiang Securities Regulatory Bureau disclosed its decision to order Urumqi Bank Co., Ltd. to make corrections. An investigation found the following issues with Urumqi Bank’s fund sales operations:

Failed to report the appointment of the fund sales department head as required, violating Article 11, Paragraph 1, and Article 56, Paragraph 1, Item 3 of the Measures for the Supervision and Administration of Directors, Supervisors, Senior Management, and Practitioners of Securities and Fund Operating Institutions (CSRC Order No. 195).
Failed to report the resignation review report of the fund sales department head as required, violating Article 10 of the Guidelines for the Content of Exit Audits and Review Reports for Personnel in the Fund Industry (CSRC Announcement [2020] No. 20).
Did not include long-term investor investment returns in the performance evaluation system for branches and fund sales personnel, violating Article 30, Paragraph 1 of the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Sales Institutions (CSRC Order No. 175).
Did not promptly apply for replacement after changes to the “Securities and Futures Business License,” violating Article 5, Paragraph 3 of the Regulations on the Implementation of the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Sales Institutions (CSRC Announcement [2020] No. 58).
Some personnel operating and maintaining the fund sales information management platform did not obtain fund practitioner qualifications, violating Article 17, Paragraph 1 of the Regulations on the Implementation of the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Sales Institutions (CSRC Announcement [2020] No. 58).

According to Article 51, Paragraph 1 of the Measures for the Supervision and Administration of Directors, Supervisors, Senior Management, and Practitioners of Securities and Fund Operating Institutions (CSRC Order No. 195) and Article 53 of the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Sales Institutions (CSRC Order No. 175), the Xinjiang Regulatory Bureau has decided to impose a supervision and management measure requiring Urumqi Bank to make corrections, which will be recorded in the integrity archive of the securities and futures market. Urumqi Bank should attach great importance, strengthen compliance management of fund sales, strictly adhere to relevant laws and regulations, take effective corrective actions, and submit a written rectification report within 30 days of receiving this decision. The bureau will conduct inspections and acceptance based on the situation.

(Xinjiang Securities Regulatory Bureau)

(Edited by: Qian Xiaorui)

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