Using Trial Tree Rules and Synergy to Promote Governance, Beijing Financial Court has walked out of the Rule of Law and Synergy to Assist Financial Development in Three Years
2024-04-12
In March this year, the Beijing Financial Court turned 3 years old. Entering this young court, everyone will vividly talk about the various changes since its establishment, and "collaborative governance" and "justice for the people" are high-frequency words in their mouths. Over the past three years, the Beijing Financial Court has assisted the China Securities Regulatory Commission in increasing the collection rate of administrative penalties by 30 percentage points through "strong enforcement and supervision"; The innovative "dual track and dual platform" securities group dispute resolution mechanism has provided convenience for more than 6000 small and medium-sized investors; The "Optimizing Business Environment Studio" has helped companies to achieve rebirth, filling the gap in Beijing's performance evaluation indicators in the World Bank... A publicly released white paper on trial work records the remarkable achievements of the court's innovative development and meticulous work over the past three years. Zhang Wen, the President of the Beijing Financial Court, said, "We are not only a case handling unit, but also a governance unit." Since its establishment, the Beijing Financial Court has been based on the characteristics of the capital's financial trial work, accelerating the modernization of financial trial work, and closely connecting with the practical needs of financial governance, improving the quality and efficiency of government court linkage, helping financial supervision "grow teeth and thorns," promoting collaborative and good governance of financial risks, and promoting the success and good governance of the financial industry. It has embarked on a new path of using the rule of law to promote high-quality development of finance. As the only court in China that governs non litigation enforcement cases with the central financial management department as the applicant, the Beijing Financial Court plays an important role in serving the country's strong regulation and risk reduction, and helping financial regulation grow with thorns. Over the past three years, the proportion of administrative cases handled by the court has reached 98%, with the national financial management department as the main body. Judicial decisions are closely related to the implementation of regulatory policies. "In recent years, relevant national departments have attached great importance to the issue of low collection rates of securities administrative penalties and fines." Xu Nan, Deputy Director of the Executive Bureau of the Beijing Financial Court, believes that a low collection rate will make financial administrative penalties become "empty shells". To this end, the Beijing Financial Court strengthens the linkage between the government and the court, promotes the innovation of the mechanism for the execution of non litigation financial administrative cases, and promotes strong supervision through strong execution. After the implementation of the newly revised Securities Law, the Beijing Financial Court accepted the country's first case of administrative penalty preservation for insider trading by the China Securities Regulatory Commission. After review by the judge, it was found that the administrative preservation measures previously taken by the China Securities Regulatory Commission were about to expire. In order to avoid the poor connection between administrative preservation and judicial preservation, which could leave an opportunity for the punished person to transfer property, the Financial Court launched a "protection, multiple, legislative, trial, and enforcement" linkage mechanism. Through the linkage between the government and the court, the judicial preservation measures for property inspection and control were completed within 24 hours, ensuring that the purpose of administrative preservation was achieved. The reporter learned that in the three years since its establishment, the Beijing Financial Court has continuously strengthened its collaborative governance with financial regulatory agencies, filled the gap between administrative law enforcement and litigation, pioneered the full process mechanism of securities administrative non litigation enforcement, and helped improve the effectiveness, authority, and credibility of financial administrative regulatory measures. With the joint efforts of all parties, the administrative penalty collection rate of the China Securities Regulatory Commission has increased by 30 percentage points in the past three years. As of now, the Beijing Financial Court has accepted 21925 financial cases of various types, concluded and enforced 20228 cases, with a total target of
Edit：Ying Ying Responsible editor：Shen Chen
Source：http://www.legaldaily.com.cn
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