[Financial Interpreter] I heard that the stockholders have a holiday today?
Today is a special holiday
——May 15 National Investor Protection Day
——A festival specially set up for shareholders.
what? There are festivals for investors?
Is it to celebrate the "stock speculation into shareholders" or "successfully cut leek"?
Don't get me wrong, you who have such thoughts must have unknown pain. Today's festival is here to save you.
On May 15 last year, the Securities and Futures Commission set up this festival solemnly to protect investors.
Financial Commission "overweight" investor protection
Investors have always ridiculed themselves as "leeks", and recently have a new name-"organic back wave". Recent events such as financial fraud and delisting of listed companies and investors' "blood loss" have caused "leeks" to complain.
But now it's different, the "Gospel" is coming.
The Financial Stability Development Committee of the State Council (hereinafter referred to as the “Financial Commission”) made three sound investigations of capital market fraud within a month, and twice emphasized investor protection.
On April 7, the 25th meeting of the Finance Committee stated that it will "resolutely combat all kinds of fraud and fraud."
On April 15th, the 26th meeting of the Finance Committee conducted a special study to strengthen investor protection, emphasizing the importance of "handling fraud and fraud."
On May 4th, the 28th meeting of the Finance Committee again mentioned the protection of the legitimate interests of investors, and rose to "zero tolerance" for fraud.
What signal does this release?
What is the Financial Commission? It is an institution of the State Council to coordinate and coordinate major issues of financial stability and reform and development. Since its establishment in 2017, it has been implementing various “high-level” decisions and arrangements regarding financial work by the Party Central Committee and the State Council. With such a high-frequency focus on capital markets and investor protection recently, Translator Jun feels that there must be some weathervane significance.
The Finance Committee has repeatedly emphasized investor protection. On the one hand, it means that the previous protection is not strong enough. It needs to be strengthened and strengthened. It means that the investors have suffered. The regulators have seen it; on the other hand, it has also increased investor confidence. It will definitely get better. Three meetings have been held, indicating that in addition to emphasis, there should be further measures.
Prior to this, China's positioning of the capital market was to provide financing facilities for enterprises, reduce financing costs, and increase the proportion of direct financing. It served listed companies, which meant that listed companies became the masters of the market, and investors raised money for them.
In recent years, regulators have begun to think more about investors, and want to protect investors and preserve and increase the wealth of the people.
As early as 2013, the State Council issued an opinion on nine aspects of investor protection.
In 2017, the National Financial Work Conference emphasized that the legitimate rights and interests of investors should be effectively protected.
In 2019, the Finance Committee emphasized the need to vigorously protect the legitimate rights and interests of investors.
In 2019, the China Securities Regulatory Commission also continued its actions: the establishment of an investor protection leading group with Yi Huiman as the team leader; there was also a special section on "Shenzhen 12" to strengthen investor protection.
The new securities law, implemented in March this year, has set up a special chapter to stipulate the investor protection system, providing strong backing for investors from the legislative level.
So, the days for the "leeks" to turn over and take the lead! It is worth celebrating!
What kind of protection do investors need?
How many individual investors are there in China? According to China Securities Depository and Clearing data, as of the end of last year, the number of investors in China's capital market has exceeded 159 million, of which individual investors accounted for 99.76%.
For such a large group, if their legal rights are impaired, the happiness of thousands of households will also be affected.
Therefore, what kind of protection do regulators need to provide to investors?
First of all, we must provide good products-real and transparent listed companies.
The stocks of listed companies are the products of the capital market. If the products are all crooked or dated, or if they are out of the blue, how can investors buy them? How is the product recirculated?
Many listed companies whitewash themselves in order to sell at a good price, telling lies and doing fake accounts, and let investors suffer losses. Such a company should not be discovered when investors are shouting "false, fake", but should have been kicked out of the market long ago, or should not have entered the market.
A regulated listed company should operate with integrity, adhere to its duty, and disclose information truthfully, accurately, completely, and in a timely manner, respecting investors, fearing investors, and rewarding investors.
Secondly, supervision should maintain a good market environment.
On the one hand, it is necessary to strengthen the supervision of listed companies, "zero tolerance" for counterfeiting, and greatly increase the penalties, including administrative and criminal penalties and huge claims, so that the cost of violations is higher than the benefits, so that the offenders pay a heavy price and deter others Motivated ".
On the other hand, counterfeiters should not be fined or delisted, but under the legal framework, they should compensate the investors who have been damaged, provide them with convenient civil remedies, and establish a punitive compensation system.
In fact, in these aspects, the new securities law has provisions, the key lies in implementation.
What should investors do if their rights are damaged?
Although the new securities law has become the largest umbrella for investors, there are still many people who have doubts: who has lost their investment rights and interests?
First of all, the easiest thing to think of is to sue, but the cost of all aspects is too large, so you may wish to consider the following means first:
1. The "12386" service hotline of the China Securities Regulatory Commission can receive complaints, consultations, opinions and suggestions on civil disputes, but it does not receive letters, visits and reports.
2. China Investor Network, online mediation, exercise, education, consulting. Investors can mediate disputes online through video, participate in online exercise and rights protection, and reduce costs such as time and money.
3. Investor relations platforms such as "e Interactive" and "Interactive Easy" on the Shanghai and Shenzhen Stock Exchanges can consult and obtain answers.
4. Those involved in complex dispute mediation and litigation, as well as China Securities Investor Protection Fund Company's "Advance Claims Special Fund" and the "Support Litigation" of the China Securities Investor Service Center provide assistance to investors.
Of course, these are remedies after the fact, and the best is not used.
Know yourself before investing
As a qualified investor, the most important thing is to do your homework before investing, practise your eyes and strengthen your self-protection ability.
For example, hundreds of national and provincial investor education bases such as the Xinhuanet Investor Education Base built by the China Securities Regulatory Commission are free investment schools. Investors can improve their rational investment awareness and professional investment ability through self-study. "Cutting leeks" must also be "cut" clearly.
Finally, the translator wants to remind that today ’s festival of investors says that investor protection protects legitimate rights and interests, and protects against violations of laws and regulations, rather than “guaranteeing you to make money”. Do n’t cry for “rights protection” as soon as you lose money.
"Investment is risky and you must be cautious when you enter the market." This sentence is known to every investor at the beginning of the market. It reminds everyone that trading is at your own risk, the risk and return are equal, and there is no free lunch in the world.
Whether buying stocks, funds, or wealth management products, all emphasize "investor appropriate management", that is, "sell the appropriate products to the right people." Therefore, the risk assessment before buying is not a walk-through. Investors should take it seriously, do not clearly be a low-risk bearer, and purchase high-level risk products in violation of regulations for high returns. In the end, although they will not "put money back" every time, It is still you who suffers.
Therefore, "understand yourself before investing" and "make only the money you can understand" ... On the day of the National Investor Protection Promotion Day, it is necessary to revisit these investment phrases. (【Financial Translator] Chen Jian / text)