Reporter | Wang Xin
Recently, Dongwu Securities (601555.SH) asked the investment bank headquarters employees to re-sign the confidentiality agreement and the restriction of competition agreement. Many terms of the agreement are relatively unfavorable to employees.
According to the "Disclosure Agreement of the Investment Bank Headquarters of Dongwu Securities Co., Ltd." obtained by Interface News, the confidentiality scope of employees of Dongwu Securities Investment Banking Department is business information, management information, major legal issues information, etc. The employee's confidentiality obligation includes prohibiting the disclosure or leakage of "secrets" and prohibiting the copying of "secrets". The relevant provisions on the "decryption measures" in the
agreement show that if relevant cadres and employees of the Investment Bank headquarters want to resign, they should notify the company 6 months in advance. During the period when employees are on duty, they must agree that Dongwu Securities will pay their salary at "70% of the monthly basic salary", and "other salary" (including but not limited to performance bonuses, allowances, pre-issuance performance, etc.) will no longer be paid. It is understood that more than 400 staff members of the Investment Banking Department of Dongwu Securities need to sign the agreement.
Sichuan Kunjue Law Firm Lawyer Zhu Jieping told Interface News that the confidentiality agreement was signed voluntarily by both parties. If the labor and capital parties do not agree in the agreement, the law stipulates that the resignation can be applied thirty days in advance, but if it is agreed in the confidentiality agreement, it should be as agreed.
An industry insider told Interface News: "Discounting wages during decryption infringe on legitimate rights and interests."
An employee of the Investment Banking Department of Dongwu Securities said: "The basic salary is very low. Once you have to change jobs, you have to get a six-month minimum living allowance."
In addition to the above confidentiality agreement, the restricted competition agreement has a greater impact on the employees of the Investment Banking Department. It is understood that specific personnel of the investment bank headquarters of Dongwu Securities (new investment banking committee, department heads, team heads, campus recruitment fresh graduates, etc. since 2021) need to sign a competition agreement, among which the competition limit for new employees and department heads is 3 years and the team heads are 2 years.
Songwu Securities has a long period of competition. According to Article 24, paragraph 2 of the " Labor Contract Law" of , after the termination or termination of the labor contract, the period for the person who meets the restrictions on competition to other employers who have a competitive relationship with the unit that produces or operates similar products or engages in similar businesses, or opens up production or operates similar products and engages in similar businesses by themselves, and shall not exceed two years. According to this regulation, the three-year restriction on competition set by Dongwu Securities is suspected of being illegal.
Employees of the Investment Banking Department of Dongwu Securities provided Interface News with a list of competitors and deadlines for a certain department, of which there are many who have a competition period of 3 years.
The aforementioned employee of the investment banking department of Dongwu Securities said, "The competition period has a great impact on sponsor , and you cannot register without continuous practice." According to the "Hyper Measures for the Management of Underwriting Business of Securities Issuance and Listing" implemented by the China Securities Regulatory Commission in June 2020, the sponsor representative needs to "have more than 36 months of sponsor-related business experience in the past 5 years and continue to engage in sponsor-related business in the past 12 months." An excessively long competition agreement period may affect resigning employees' re-apply for insurance qualification.
In addition, according to the "Sunwu Securities Co., Ltd. Investment Bank Headquarters Restriction Agreement" obtained by Interface News, after the labor contract is terminated or terminated, Dongwu Securities will pay economic compensation for non-compete employees monthly according to the standard of [one-third of monthly salary and salary] within the period of non-competement. The "monthly salary and salary" is determined according to the average salary of the employee before the termination or termination of the labor contract.
"The company's requirements will lead to a bad reputation in the company, and it will be difficult to recruit people in the future. Some employees who are already planning to join will not come to join the company." Employees from the Investment Banking Department of Dongwu Securities said that this regulation will also cause great psychological harm to the on-the-job employees and affect the morale of the army. If the people who are about to leave are forced to force the people who are about to leave, the project may also be ruined.
Huatai and former senior sponsor representative Wang Jiyue told Interface News that banning in in ban on is actually meaningless, especially for ordinary employees, which actually infringes on the legitimate rights and interests of employees. This operation may not necessarily keep people, and it will make others dare not come. The prohibition of competition clause is also possible, but the compensation must be sufficient.
Just when the company caused heated discussions in the industry due to the new agreement, Dongwu Securities Investment Bank suffered a blow on August 26, and the company's sponsored Weikang Medical IPO project will be rejected. According to Wind data, Dongwu Securities has sponsored three companies to successfully IPO this year, raising a total of 560 million yuan, ranking 41st in the industry.
Dongwu Securities released its interim report on August 19. The company achieved operating income of 4.301 billion yuan in the first half of the year, a year-on-year increase of 5.64%. Among them, investment banking business revenue was 422 million yuan, a year-on-year increase of 5.51%, and the net profit attributable to shareholders in the same period was 818 million yuan, a year-on-year decrease of 38.82%.
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