Shanghai issued 26 measures to crack down on illegal securities activities
2022-03-01
In order to further implement the opinions of the general office of the CPC Central Committee and the general office of the State Council on strictly cracking down on illegal securities activities according to law, recently, with the consent of the Shanghai municipal government, the Shanghai plan on strictly cracking down on illegal securities activities according to law was officially issued. There are 26 articles in the plan, which is of great practical significance for the implementation of national strategies such as "zero tolerance" to punish illegal and criminal acts of securities and futures, maintain the order of Shanghai's capital market, further ensure that Shanghai's capital market serves the high-quality development of the real economy, further promote the construction of Shanghai international financial center and strive to build a leading area for socialist modernization. The reporter learned that the "Shanghai plan" is based on the actual situation of law enforcement and justice in Shanghai's capital market. Focusing on the work objectives of 2022 and 2025, it stipulates seven aspects and 26 specific implementation measures, reflecting the distinctive "Shanghai characteristics". One is to escort the major national strategy undertaken by Shanghai. The plan aims to create a good legal environment for the registration system of the science and innovation board, and proposes to carry out special law enforcement actions against various illegal acts in the registration system of the science and innovation board in due time, and focus on law enforcement in the field of investment banking business. 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 laws and regulations in Pudong New Area, and promote and strengthen the legislative supply in the securities field in line with the needs of Pudong's reform and innovation practice and the requirements of Shanghai International Financial Center. Actively contribute to the construction of international financial asset trading platform, establish and improve supporting cross-border supervision and law enforcement rules. Second, provide "Shanghai experience" for deepening capital market reform. Deepen the exploration of perfecting the securities civil compensation system, strengthen the cooperation between the securities regulatory authorities and judicial organs in the securities civil compensation litigation, explore the securities civil public interest litigation system, and carry out the pilot of the arbitration system in the securities industry; In terms of strengthening the market restraint mechanism, try first, create a typical case of market-oriented exit of listed companies, and support listed companies to exit and liquidate according to law through diversified channels such as active delisting, enterprise merger, reorganization and listing; In terms of improving the efficiency of securities law enforcement, we will make new moves and establish a normalized investigation mechanism for public security organs, market supervision, taxation, the people's Bank of China and other departments. Third, contribute "Shanghai wisdom" to accelerating the improvement of the judicial system and mechanism of securities law enforcement. The plan places an important position on deepening the all-round coordination between the securities regulatory authorities and the public security and judicial organs, and plans to add a "municipal coordination working group on combating illegal activities in the capital market" under the municipal joint meeting on financial stability coordination. Give full play to the advantages of centralized administrative criminal investigation and punishment in Shanghai, and clearly require the establishment of a mechanism for rapid investigation and punishment of relevant major and important cases. At the same time, further improve the system and mechanism in terms of two-way transfer of clues of securities violations and crimes, establishment of communication channels between procuratorates and cadres of securities regulatory departments, strengthening the coordination and connection between judicial trial and securities administrative law enforcement, and strengthening the joint force to crack down on securities violations. Fourth, lay a solid foundation for Shanghai to build a demonstration area of the rule of law and integrity capital market. The plan combines strictly cracking down on illegal securities activities according to law with effectively preventing and resolving risks and strengthening the construction of market integrity, and requires relevant departments such as market supervision, public security and securities supervision to strengthen joint law enforcement and resolutely clean up illegal securities business; Strengthen the unified law enforcement of the bond market and the overall supervision of cross market information, and strictly investigate and deal with all kinds of "debt evasion"; Comprehensively promote the credit commitment system, include the credit commitment items and their performance into the credit record, explore the credit report to replace the enterprise compliance certificate, and continue to do a good job in the integrity publicity and education of the capital market by using the platform of Shanghai Insurance Union. In the next step, Shanghai Securities Regulatory Bureau, Shanghai local financial supervision bureau and other relevant departments will work closely together to focus on the promotion of tasks with "Shanghai characteristics" such as supporting the legislation in the financial field in Pudong New Area, establishing a coordination mechanism for combating illegal activities in the capital market, strengthening the construction of international financial asset trading platform and the guarantee of the rule of law, so as to give full play to their joint efforts and standardize development. (Xinhua News Agency)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Securities Daily
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