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The Daily Business News learned that on May 15, the Securities Regulatory Commission held the "May 15 National Investor Protection publicity Day" in Beijing. And focus on issuing the provisions on the Management of procedural transactions in the Securities Market (for trial implementation), guidelines for the Application of Regulatory rules-issuing Class No. 10, and the work plan for improving the pluralistic settlement mechanism of securities and futures disputes to further promote the governance of sources of litigation (hereinafter referred to as the "program"), as well as 10 institutional rules closely related to investor protection, such as the business rules of relevant self-regulatory organizations and insurance institutions.
Specifically, the Program defines the overall requirements of the work and puts forward the requirements from the following six aspects, including: based on prevention and reducing contradictions at sourceFunbingogamesBased on mediation, give full play to the basic role of mediation; based on the rule of law, the comprehensive use of dispute resolution "toolbox"; administrative and judicial linkage, explore optimization and court mediation docking; based on practice, carry out special governance in key areas of disputes; overall planning and coordination, strengthen the protection of litigation source governance.
The parties are encouraged to comprehensively use the "toolbox" of dispute resolution to further smooth the channels of investor dispute resolution and relief.
In recent years, the CSRC system attaches great importance to source governance, strives to enrich the diversified "toolbox" of innovative capital market in combination with industry practice, promotes the governance of litigation sources in this field through multiple channels, and promotes the innovative practice of "Fengqiao experience" in the capital market in the new era.
The detailed introduction of the "toolbox" in the "plan" is of great significance to ordinary investors.
First, the smooth flow of 12386 service platform demand reflection channels, compacting the primary responsibility of operating institutions.
We will continue to enhance the function of the 12386 service platform "investor voice through train" and "conflict resolution dredge", optimize the 12386 service platform to uniformly receive investor complaints, reports, consultations, opinions and suggestions, and uniformly mobilize securities and futures business institutions, trading venues, trade associations, insurance institutions, mediation organizations, and regulatory departments to resolve investors' demands in a collective manner. Since 2013, the 12386 service platform has received more than 1.16 million investor claims and recovered more than 4% of the losses for investors.Funbingogames40 million yuan.
The second is to give full play to the role of industry mediation.
In recent years, the CSRC has strengthened its ties with the Supreme Court, continuously improved the construction of mediation systems and mechanisms in the field of securities and futures, and instructed 38 securities and futures mediation organizations across the country to give full play to their professional mediation role. we will continue to make good use of the docking platform for online litigation and mediation, and expand the effectiveness of the mediation mechanism.
Since 2016, 38 mediation organizations have accumulated successful mediation cases 3Funbingogames32 million cases, recovering losses of more than 10.2 billion yuan for investors. Through the innovative application of a series of mechanisms, such as "demonstration judgment + professional mediation", litigation and mediation docking, and so on, we have successfully mediated a number of major typical cases. Emphasize the combination of prevention and control, in view of major difficulties, frequent disputes or new types of disputes, strengthen analysis, research and experience summary, and timely release more than 100 typical cases of investor protection dispute mediation, among which many cases are selected by the Supreme Court to mediate multiple typical cases, so as to achieve the exemplary role of "mediation together, education together".
The third is to effectively apply the characteristic mechanism of Chinese capital market, such as advance compensation, to strengthen the protection of investors' rights and interests.
As an innovative exploration of investor protection mechanism in China's securities market, this system is an alternative dispute resolution mechanism to facilitate investors to obtain economic compensation, stipulating that fraudulent issuance, misrepresentation or itsFunbingogamesIf his major illegal acts cause losses to investors, the controlling shareholder, actual controller and relevant securities company of the issuer may entrust an insurance institution to reach an agreement with the investor on compensation and pay compensation in advance. After the new Securities Law, the first case of advance compensation for amethyst storage was completed in less than three months. Nearly 17000 investors received a compensation of 1.086 billion yuan, covering 97.22% of the total number of eligible investors, effectively saving judicial resources and reducing the cost of safeguarding investors' rights.
The fourth is to make use of the advantages of insurance institutions to promote the collective and proper settlement of securities civil disputes through special representative litigation.
Under the strong leadership of the party committee of the CSRC, the CSRC has successively issued supporting system documents to promote the implementation of the representative litigation system, forming a complete normative system of "judicial interpretation + regulations of the CSRC + internal system of insurance institutions". Further clarify the organizational leadership and division of responsibilities of the relevant units of the meeting system. The "work programme" also further defines that the dispatched agencies should strengthen the clue notification and case communication with the service center, and support the service center to strengthen the application of special representative litigation. While introducing the supporting system, we actively promoted the implementation of the special representative litigation case, and nearly 60, 000 investors in the Kangmei Pharmaceutical case and Zeda Yisheng case received a compensation of more than 2.7 billion yuan. Every reporter has learned that at present, in accordance with the requirements of the "opinions of the State Council on strengthening Supervision and preventing risks and promoting the High-quality Development of the Capital Market," the CSRC is strengthening the application of litigation by special representatives and strengthening the litigation rights protection functions of insurance institutions. In addition, we should give full play to the positive role of insurance institutions in initiating civil proceedings and guide the investment service center to file a total of 65 support lawsuits and 9 shareholder subrogation lawsuits.
Further promote the pluralistic dispute resolution mechanism and the governance of litigation sources.
On the whole, the Plan systematically formulates the overall requirements and six major measures for source governance, which is conducive to further improving the ability of preventing and resolving contradictions and disputes in the capital market and the level of the rule of law, and effectively safeguarding the legitimate rights and interests of investors. better serve the high-quality development of finance.
The main purposes of the "Program" are: first, to implement the spirit of adhering to and developing the "Fengqiao experience" in the new era, and comprehensively promote the management of sources of litigation in the field of securities and futures.
Under the background of the complex environment at home and abroad, the capital market is developing rapidly, and some disputes are characterized by a wide range of areas, various types, and great difficulties in resolving them. The CSRC is deeply aware that the proper governance of contradictions and disputes in the capital market is an important part of the national social governance system and source of litigation governance, and must give full play to the initiative of governance in this field under the decision-making and deployment of the CPC Central Committee.
Under the new situation and new requirements, the China Securities Regulatory Commission has deeply grasped the scientific connotation and practical requirements of the "Maple Bridge Experience" in the new era. In the "Plan", it has been clarified that the resolution of conflicts in the capital market must be based on prevention, mediation, the rule of law, and practice, and strengthen administrative and judicial linkage, strengthen overall coordination, cultivate a culture of diversified dispute resolution, especially non-litigation dispute resolution, in the entire market, insist on putting the non-litigation dispute resolution mechanism at the forefront, and promote source prevention and local substantive resolution of disputes. Promote the continuous deepening of the governance of litigation sources.
The second is to implement the new "National Nine Articles" concept of finance for the people and more effectively protect the legitimate rights and interests of investors, especially small and medium-sized investors.
Investor protection is a concentrated expression of the political and people-oriented nature of capital market supervision, and is the most important central task of the capital market. The Central Financial Work Conference pointed out that the road to financial development with Chinese characteristics must adhere to the people-centered value orientation. The launch of the "Plan" is one of a series of arrangements made by the CSRC to thoroughly implement the spirit of the Central Financial Work Conference and implement the requirements of the new "Nine National Articles". The purpose is to be goal-oriented, problem-oriented, comprehensively implement policies, and systematically formulate governance measures that are in line with the starting point and goal of "more effectively protecting the legitimate rights and interests of investors" are of great significance to enhancing investors 'sense of financial gain and happiness.
