Every reporter: Wang Haimin Every editor: He Xiaotao, Zhao Yun
html On July 26, a video titled "985 Freshman Investment Banking Internship Day" was circulated on the Internet. The video shows that the college student studied at CITIC Construction Investment during the summer vacation, drove a Porsche to work, and played golf and badminton after get off work. The most controversial thing is that the video leaked project customer information of multiple CITIC Construction Investment Banking Departments.
After verification, the student is a freshman at Huazhong University of Science and Technology. His father is a non-public official and has never worked in the financial regulatory department. After investigation, it was found that the person in charge of the investment banking team of the company's research department had illegally introduced the student into the company. The company has removed the person in charge and will seriously hold the person in charge of the investment banking department accountable.
Regarding the company's customer information involved in the video, the company will try its best to reduce the impact on customers and effectively safeguard the rights and interests of customers. Information involving employee work notes and other information is a routine due diligence record. After investigation, there is no assistance in financial fraud. The company will accept supervision and inspection by regulatory authorities at any time to ensure that business behavior is in compliance with the law.
Regarding the existing problems and omissions in internal management, the company will deeply summarize, seriously reflect, make solid rectifications, and draw inferences from one example to further improve the company's management system, internal control, and personnel management.
What exactly is "research"?
It is worth noting that in this incident, a relatively uncommon word appeared - "research". How is this different from internship in the traditional sense?
reporters asked people from many securities firms, investment banks and relevant departments, and the feedback they received was that they had never heard of the term "research and study" before.
This student is a freshman, which is also inconsistent with the requirements of general interns. "We have never heard of 'research studies'. We only have internships here. Generally, students who are in their third year or above and in their first year of graduate school come for internships." A relevant person in charge within a securities firm told reporters.
In addition, a senior insurance agent of a leading securities firm told reporters that generally speaking, investment bank interns have certain professional requirements, usually in finance, law, accounting and other majors.
The above-mentioned relevant person in charge told reporters, "It would not exist here for a student from a non-finance, law, etc. major to intern in the investment banking department. Our investment banking requirements are still relatively high."
"Internships that require an internship certificate are very important for majors There are requirements. If the so-called study does not require a certificate, then it doesn’t matter what professional background you have.” A person with many years of experience in investment banking pointed out to reporters, “Sometimes the head of the investment banking team needs to strengthen the team so that customers can see it. With his own momentum, especially some handsome young people, this is a bonus for getting the project. "
The industry has strengthened the management of compliance requirements for interns.
This student said on the Internet. In the video, three customer information appeared, including "Hairo Innovation Project", "Wangyuan Technology Project" and "Guoneng Information Control Project". In March this year, Wangyuan Technology had withdrawn its IPO application.
video shows that the student also went to the site of the National Energy Information Control Project. However, Guoneng Credit Control and Hairou Innovation have not yet disclosed IPO application information.
Relevant people from multiple securities firms reported to reporters that signing confidentiality agreements with interns is a routine operation. "We have signed an internship agreement with each intern, which contains confidentiality clauses." said the relevant person in charge of the above-mentioned securities firm. The
video has been widely circulated on the Internet and has caused widespread concern in the industry. "Our company forwarded this news to various departments and privately told them to be optimistic about the interns." An employee of a securities firm told reporters.
An insider from the above-mentioned securities firm said frankly, “I see that mainstream media have also begun to report it, and the topic has become a hot search topic on Weibo.This incident has rapidly developed, and some friends around me believe that its impact on the reputation of the (securities) industry may be no less than that of the "CICC Little Red Book" incident. "
Since the "CICC Little Red Book" incident in July 2022, the securities industry has strengthened the management of social accounts of formal employees. In recent years, there have been some interns (so-called "little black workers") introduced through non-standard channels in the securities industry. , the management loopholes and public opinion risks of this type of interns are also more difficult to control.
It is understood that after the above-mentioned incident triggered a public opinion storm, some securities companies have further strengthened the management requirements for interns. According to media reports, many securities companies have already had. Action. A person from a securities firm and investment bank said that after the student’s video became popular, his department required strict management of the scope of interns’ access to confidential information and documents.
“In fact, we strengthened the intern system throughout the company at the end of last year. Management, the confidentiality education and safety education for interns mentioned by these colleagues are included. Yesterday afternoon, we also emphasized it again. "The above-mentioned brokerage insiders told reporters.
reporter | Wang Haimin
editor | He Xiaotao Zhao Yun Dubo
proofread | Zhao Qing
Cover image source: video screenshot
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