China News Service, Shanghai, March 1 (Reporter Yin Liqin) Recently, the "Shanghai Plan on Strictly Combating Securities Illegal Activities in accordance with the Law" was officially issued, reflecting the distinctive "Shanghai characteristics".
Focusing on the national strategy undertaken by Shanghai, the "Plan" focuses on creating a good legal environment for the registration system of the STAR Market, and proposes that special enforcement actions will be carried out in time for various illegal acts in the registration system on the STAR Market, and key law enforcement will be carried out for the investment banking business field.
Make full use of the authorization of the Standing Committee of the National People's Congress to the Shanghai Municipal People's Congress to formulate regulations for the Pudong New Area, and promote and strengthen the legislative supply in the securities field that meets the needs of Pudong's reform and innovation practice and the requirements of Shanghai's international financial center.
Actively assist in the construction of an international financial asset trading platform, and establish and improve supporting cross-border supervision and law enforcement rules.
Focusing on deepening the reform of the capital market, the "Plan" aims to provide "Shanghai experience", deepen exploration in improving the securities civil compensation system, strengthen the cooperation between securities regulatory authorities and judicial authorities in securities civil compensation litigation, and explore the securities civil public interest litigation system. Carry out a pilot program of the arbitration system in the securities industry.
In strengthening the market restraint mechanism, we will try first, create a "typical case" of market-oriented exit of listed companies, and support listed companies to exit and clear in accordance with the law through diversified channels such as active delisting, corporate merger, restructuring and listing.
In terms of improving the efficiency of securities law enforcement, "new measures" have been introduced, and a normalized investigation mechanism for multiple departments such as public security organs, market supervision, taxation, and the People's Bank of China has been established.
In order to speed up the improvement of the judicial system and mechanism of securities law enforcement, the "Plan" actively contributes to "Shanghai Wisdom", puts the deepening of the all-round coordination between the securities regulatory authorities and the public security and judicial authorities in an important position, and deploys the addition of the "Municipal Financial Stability Coordination Joint Conference" under the Municipal Financial Stability Coordination Joint Conference. Coordination Working Group for Combating Illegal Activities in the Capital Market".
Taking advantage of the centralized strength of Shanghai's administrative criminal investigation and punishment, it is clearly required to establish a mechanism for quick investigation and quick handling of relevant major and important cases. At the same time, it transfers clues to securities violations and crimes in both directions, establishes communication channels between the procuratorate and securities regulatory authorities, and strengthens the coordination between judicial trials and securities administrative law enforcement. In terms of connection and other aspects, the system and mechanism shall be further improved, and the joint efforts to crack down on illegal securities activities shall be strengthened.
To help Shanghai build a demonstration zone for the rule of law and honest capital market, the "Plan" will combine strict crackdown on securities illegal activities in accordance with the law, effective prevention and mitigation of risks, and strengthening of market integrity. It requires market supervision, public security, securities supervision and other relevant departments to strengthen joint law enforcement. Resolutely clean up illegal securities business.
Strengthen unified law enforcement in the bond market and overall supervision of cross-market information, and strictly investigate and punish all kinds of "debt evasion and abandonment" behaviors.
Comprehensively promote the credit commitment system, include credit commitment items and their performance in credit records, explore credit reports to replace corporate compliance certificates, and use the Shanghai Insurance Alliance platform to continue to do a good job in the capital market integrity publicity and education.
It is reported that the Shanghai Securities Regulatory Bureau, the Shanghai Local Financial Supervision Bureau and other relevant departments will closely cooperate in the next step, closely focus on the general goal of "creating a standardized, transparent, open, dynamic and resilient capital market", and earnestly implement the "Plan". ".
On the basis of comprehensively advancing the implementation of various tasks, the focus will be on supporting the legislation of the Pudong New Area in the financial sector, establishing a coordination mechanism for cracking down on illegal activities in the capital market, and strengthening the legal guarantee for the construction of an international financial asset trading platform with "Shanghai characteristics". Let the capital market truly feel the positive changes brought about by the Plan.
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