China News Service, March 11th, according to the website of the China Securities Regulatory Commission, the China Securities Regulatory Commission and the Ministry of Finance have jointly researched and drafted the "Provisions on Matters Concerning the Preferential Use of Property of Persons Who Have Broken the Law for Civil Compensation (Draft)" (hereinafter referred to as "" Regulations”), is now open to the public for comments.
There are 14 articles in the "Regulations", which clarify the specific working mechanism for the administrative fines and confiscations paid by the offenders to be used for civil compensation liability, mainly including the following:
The first is about the subject of the application.
A person who violates the provisions of the "Securities Law" needs to bear both civil compensation liability and administrative liability for paying fines and confiscations due to the same illegal act. When the remaining property after paying fines and confiscations is not enough to bear the civil compensation liability, he shall file a lawsuit in the people's court and win the case. After the judgment or mediation letter, the aggrieved investor who has not received full compensation after being enforced by the people's court or allocated by the bankruptcy liquidation procedure may file a written application; Investor protection agency for individuals who may file applications on behalf of aggrieved investors.
The second is about the application period and application amount.
The aggrieved investor may file an application within one year after the people's court issues a ruling to terminate the execution; if the violator is declared bankrupt by the people's court, it shall file an application within one year after the end of the bankruptcy procedure or the end of the additional distribution procedure; if it is more than one year, the CSRC shall apply. will not be accepted.
The amount applied by the aggrieved investor shall not exceed the amount of compensation that the defendant should bear as specified in the civil judgment, etc., and shall not apply for the part that the defendant has already performed; the amount of fines and confiscations used for bearing civil compensation liabilities shall not exceed the amount of fines and confiscations actually paid by the offender. If multiple aggrieved investors submit applications at the same time, and the total amount of the applications exceeds the amount of fines and confiscations actually paid by the offender, the amount will be refunded according to the proportion of the application amount of the aggrieved investors determined in accordance with the "Regulations".
The third is about the process.
The main contents of the handling process are as follows: The Administrative Punishment Committee of the CSRC accepts and examines the application materials submitted by the victimized investors, and understands and verifies the preliminary execution of the case and the distribution of the bankruptcy property to the people's court that issued the ruling on the termination of execution or the ruling on the termination of bankruptcy proceedings. ; The CSRC submits an application for withdrawal from the treasury on an annual basis; if the Ministry of Finance approves the review, the relevant fines and confiscations of the offenders will be returned to the account of the CSRC; the CSRC will promptly refund the fines and confiscations of the offenders after receiving the funds for withdrawal from the treasury. To the aggrieved investors; after the CSRC completes the refund procedures, it will promptly notify the people's court that issued the ruling on the termination of execution or the ruling on the termination of the bankruptcy procedure, and publicize the relevant information on the refund.
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