A reporter from China Securities Journal and Taurus of China Securities Journal exclusively learned from the industry on May 14 that China Settlement and Clearing Corporation recently launched the verification of abnormal accounts in the first quarter of 2025 to implement the real-name management regulations of securities accounts and prevent and crack down on illegal use of securities accounts. It is reported that China Settlement has issued suspected abnormal accounts initially screened in the first quarter to various securities companies. All securities companies must organize verification of suspected abnormal accounts as usual, and submit verification reports and verification results feedback forms to China Settlement within the prescribed time limit.

According to China's settlement requirements, when conducting verification, securities companies should check the account opening information, account manager introduction, customer fund changes and securities transactions, and combine the details of the abnormal account issued, to investigate the use of abnormal accounts. Regarding the abnormal situations found, securities companies should verify through follow-up visits and other means to judge investors' familiarity with the securities accounts they hold, and feedback the verification results. Securities companies should determine the real-name use of securities accounts based on the verification results. If investors are suspected of illegally lending securities accounts, securities firms may list their securities accounts as key monitoring accounts and provide warnings and education to investors to clarify the consequences of illegally using securities accounts. For verification of illegal lending of securities accounts, securities companies should take necessary measures and report to China Settlement and relevant regulatory agencies in a timely manner. Materials such as verification of working papers and follow-up recordings will be the key contents of China's settlement site inspection.

It should be noted that securities companies need to submit detailed information on the company's verification process of suspected abnormal investors to China Settlement. In addition to basic information such as the investor's name, account, age, occupation, fund size, etc., securities companies need to verify whether the account to be checked is suspected of capital allocation. Specifically, securities companies need to check whether the mobile phone number of the investor or its second contact person is related to the capital allocation company, and to check whether the account has "large amount of funds transferred out before the transaction and bank-security transfer password is modified, and large amount of funds transferred in after the modification" or "there are similar or proportional integer amounts transferred in after the modification" and other funds with suspected off-market allocation characteristics such as "the entrusted mobile phone number, MAC address, and IP address used before and after the modification of the transaction and bank-security transfer password are completely different" and other situations with suspected off-market allocation characteristics.