China News Service, July 8th, according to the official WeChat news of the China Securities Regulatory Commission, recently, the local securities regulatory bureaus have exposed a number of off-site funding platforms. The list will be exposed centrally.
At present, some unscrupulous institutions or individuals have created off-site allocation websites, mobile APPs, WeChat public accounts and other platforms, claiming to provide up to ten times more stocks, with "you stocks, I pay" "leveraged stocks, high profits" Real trading, low threshold, "fund safety, quick cash withdrawal", etc. are gimmicks, inducing investors to participate in off-site funding activities.
According to the newly revised Securities Law, securities financing and securities lending business is a franchise business of securities companies, and no unit or individual may conduct business without the approval of the CSRC. OTC fund-raising activities essentially belong to the securities financing and securities lending business that only securities companies can carry out in accordance with the law. If relevant institutions or individuals do not obtain the corresponding securities business operation qualifications to engage in OTC fund-raising activities, they constitute illegal securities business activities and are illegal. Will be held legally responsible. In November 2019, the Supreme People’s Court issued the "Minutes of the National Court Civil and Commercial Trial Work Conference", which emphasized the illegality of off-site funding, and made it clear that the off-site funding contract is an invalid contract. Take relevant risks and responsibilities.
The CSRC earnestly implements the Securities Law, continuously promotes the normalization of cracking down on over-the-counter funding violations, and resolutely safeguards the interests of investors and the order of the capital market. For off-site funding activities, the CSRC will continue to increase monitoring efforts, actively investigate and deal with it, promptly expose it, and strictly punish in accordance with the law; if the crime is suspected, it will be transferred to the public security organ for investigation and prosecution, and criminal responsibility will be investigated according to law.
The China Securities Regulatory Commission reminded investors that none of the over-the-counter funding platforms are qualified for securities business operations. Some are suspected of engaging in illegal securities business activities, and some are suspected of engaging in fraud and other illegal criminal activities through "virtual disk" and other methods. Investors are encouraged to raise awareness of risk prevention and consciously stay away from off-site funding activities to avoid property damage. If you are cheated for participating in off-site allocation, please report the case to the local public security organ in a timely manner.
Attachment: List of illegally engaged off-site funding platforms