Recently, Tianjin Securities Regulatory Bureau issued a warning letter to Minsheng Securities Tianjin Duolun Dao Securities Sales Department (formerly Minsheng Securities Tianjin Fuan Street Securities sales Department). Tianjin Securities Regulatory Bureau pointed out that after investigation, the sales department has the following problems: First, the former head of the sales department was taken compulsory measures by the judicial department for suspected contract fraud, and the people's Court has made a judgment of first instance; Second, non-company personnel are engaged in recording attendance and meeting minutes in the sales department for a long time.

Tianjin Securities Regulatory Bureau pointed out that the above problems reflect that the sales department personnel management is not in place, internal control is not perfect, so it was decided to take administrative supervision measures to issue a warning letter to the sales department.

It is reported that Minsheng securities currently has only one securities sales department in Tianjin, Duolun Road. Wei Fang, the former head of the business department, has been identified as an inappropriate candidate in 2019. According to the "Decision on taking Measures to Identify Wei Fang as an inappropriate Candidate" issued by the Tianjin Securities Regulatory Bureau on October 24, Wei Fang signed a forged "fixed income business agreement" with investors in the name of investing in national debt repurchase, and collected investor funds from his personal bank account. Use investor funds to trade securities through another person's securities account. When applying for the qualification of the head of a branch of a securities company, Wei Fang provided false information and concealed the above-mentioned major matters without reporting. Wei Fang's behavior violated the regulations on Honesty and Integrity of Securities and Futures Operating Institutions and Their Staff and other relevant provisions, so he was identified as an inappropriate candidate. From the date of the decision, he shall not serve as the director, supervisor, senior manager or head of branch of the securities company or actually perform the above duties.