first, build the securities investor protection fund system
securities act a very important guiding principle is to increase investor protection. this is related to increasing of listed companies, securities companies regulatory aspects are reflected.
in recent years, a number of securities companies exposed embezzlement, illegal phenomenon pledge customer transaction settlement funds and occupancy customer assets, serious violations of the interests of investors. securities law with reference to international common practice, the establishment of the securities investor protection fund system, states: "the establishment of the state securities investor protection fund and other securities investor protection fund of funds paid by securities companies legally raised, whose mobilization. management and use of specific measures by the state council. "
second, the establishment of institutional investors for damages
securities act clearly defines the damage compensation system for investors: the issuer, the information disclosure of listed companies have a false, misleading statements or material omissions, resulting in losses for investors in securities trading, the issuer, the listed company shall liability; for insider trading, stock market manipulation, fraudulent customer behavior resulting in losses to investors, the perpetrator shall be liable for compensation according to law; investment consulting institutions and their employees of listed companies engaged in the sale of the securities services business provides consultancy services stocks and other acts, causing losses to investors, shall be liable for compensation, and so on.
damage compensation system established to provide investors with the institutional support of legal remedies, investors avoid the stock market due to the presence of the wrongful act and affect investor confidence.
third, improve the securities investment consulting false information liability system
currently securities investment consulting industry is a bit confusing, there are some "black sheep." some securities consulting firm and the media together, buy television and radio stations will be more periods of stock analysts marketing, promotion stocks, some stock analysts and even the dealer collusion, deliberately publishing false information to manipulate the market and mislead investors.
in order to protect the interests of investors, securities law clearly stipulates that investment consulting institutions and their employees shall not engage in securities services business use of the media, or by other means to disseminate false or misleading information to investors, and the resulting provisions for investors damage, it shall be liable for compensation.
fourth, to strengthen the powers of the securities regulatory authorities
to strengthen the supervision of the securities market, maintaining market running order, securities act improve the regulatory powers of the state council's securities regulatory authority to adjust the regulated objects and increase the means of supervision, especially for illegal compulsory powers of inspection and investigation, to meet the needs of the fight against crimes.
securities law clearly stipulates that securities regulatory authority has the right to securities issuers, listed companies, securities companies, securities investment fund management companies, securities service institutions, stock exchanges, securities registration and settlement institution-site inspection; the right to access, copy, and it is investigating the incident relating to property registration, communication records and other information; to inquire into the parties and events with the investigation units and individual capital accounts, securities accounts and bank accounts; for there is evidence that has been or may be moving or hiding illegal funds, securities and other property involved or conceal, forgery, destruction of important evidence, the state council securities regulatory agency approval of the principal, can be frozen or seized; and so on.
fifth, the sfc agency personnel shall be investigated abuses
securities law of the state council authorized the expansion of the securities regulatory authority, but also defined its exercise of power constraints
securities law stipulates: "the securities regulatory authority under the state council or the state council authorized department of one of the following circumstances, the persons in charge and other directly responsible personnel directly responsible shall be given administrative sanctions :( a) the issuer does not comply with provisions of this law securities, establishment of securities companies to apply for approval, approval; (b) violation of the provisions of this law to take the provisions of article 180 of the on-site inspection, investigation, inquiry, freezing or seizure of such measures; (c) violation of the provisions of relevant institutions and personnel to implement administrative penalties;. (iv) other functions and duties of behavior "also provides the staff and audit committee member of the issuance of the securities regulatory authority, and does not fulfill the duties prescribed in this law, abuse, neglect duty, used his position to seek any unjust interests or divulge the relevant units and individuals trade secrets shall be held liable.
