Securities exec punished after disgraceful videos spread

A Founder Securities executive was dropped from the candidates’ list of best analyst after disgraceful video clips were exposed, selection host New Fortune reported on its Weibo account on Tuesday.

In a video that went viral on Weibo on Tuesday, a man wearing a yellow and blue-striped T-shirt is seen kissing a taller man in blue on the chest while the latter is talking at a banquet. The man in yellow was later identified as Ma Jun, assistant to the director of Founder Securities. The taller man was said to be Liu Fengyuan, a private equity investor, ifeng.com reported on Tuesday.

A photo shows Ma passes something mouth to mouth to Liu.

Liu is seen hugging and kissing a young woman wearing grey, identified as Founder Securities 27-year-old employer Liao Lei, ifeng.com reported.

Founder Securities, a subsidiary of Peking University’s Founder Group, has suspended Ma and Liao for violating regulations of the Securities Association of China (SAC). An investigation is ongoing, finance media CaiLianPress reported on Tuesday.

The SAC said analysts, research and sales personnel shall participate in the selection and contests through fair competition, and shall not influence the selection results by improper means.

New Fortune required all selection participants to abide by professional integrity. Ma was removed from the candidates’ list and the voters involved were stripped of their voting rights.

Liu said it was not a canvassing banquet but friends gathering with investors, sellers and media professionals, ifeng.com reported.

“I would not invite media professionals if it’s under-thetable business,” Liu said.

Vote for the 16th New Fortune Best Analyst began on Tuesday and will run until September 27.

As a non-governmental organization, New Fortune provides financial information and holds annual selections. Analysts who rank high on the list would receive a higher annual salary up to 10 million yuan ($1.5 million), ifeng.com reported.