China News Service, Beijing, December 4th (Reporter Xia Bin) Recently, the Kangmei case triggered discussions on the independent director system from all parties in the market. On the 4th, Wang Jianjun, vice chairman of the China Securities Regulatory Commission, participated in the 18th Global International Finance Forum online on the 4th. In response at the annual meeting, the China Securities Regulatory Commission attaches great importance to the opinions and suggestions of all parties in the market to improve the independent director system and has organized special forces to conduct research.
Wang Jianjun said that in response to the judgment that independent directors bear 5% or 10% of joint and several liability, some opinions believe that this judgment is of great significance to purifying the independent directors’ practice environment and improving the governance of listed companies. It will promote independent directors to be more diligent and responsible, and to achieve the survival of the fittest. .
There are also opinions that independent directors bear joint and several liability for the misrepresentation of listed companies, there are problems such as the mismatch of income and responsibilities, and independent directors “do not understand alone”. It is recommended to improve the relevant institutional arrangements.
"The independent director system of listed companies should be viewed comprehensively and objectively." Wang Jianjun pointed out that the board of directors of listed companies is mainly responsible for major issues such as company business strategies.
The establishment of independent directors in listed companies is a governance requirement stipulated in the "Company Law".
Since the China Securities Regulatory Commission issued the "Guiding Opinions on Establishing an Independent Director System in Listed Companies" in 2001, independent directors have become an important part of listed companies to improve their governance structure, promote standardized operations, and protect the rights and interests of small and medium investors. Most independent directors Being able to perform their duties with due diligence and due diligence has played an important role in improving the effectiveness of corporate governance, and has become a significant sign that the governance of listed companies is different from that of non-listed companies.
Wang Jianjun revealed that the China Securities Regulatory Commission will fully listen to the opinions of all parties, actively communicate with relevant departments, promote system improvement, further clarify the boundaries of the rights and responsibilities of independent directors, strengthen performance guarantees, improve accountability mechanisms, and support and supervise independent directors to effectively perform their duties of honesty and diligence. Efforts to form an institutional environment and a good ecology in which all parties are responsible and market restraints are effective.
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