The fundamental purpose of market value management is to improve the quality of listed companies. Listed companies should earnestly raise their awareness of compliance, operate in compliance with laws and regulations, use capital market tools on the premise of compliance with laws and regulations to reasonably improve the level of corporate management and governance, and resolutely resist’pseudo market value management’.
The law is fair and will not wrong a good person, nor will it let a bad person go!
On September 24, relevant personnel were suspected of manipulating the stock price of “Nanling Civil Explosion”, “Jinchuang Group”, and “Haozhi Electromechanical” and made significant progress. A spokesperson for the China Securities Regulatory Commission said that the China Securities Regulatory Commission has recently cooperated with public security agencies to carry out joint operations and arrested three major suspected criminals in market manipulation cases in one fell swoop.
It is understood that this includes Ye Fei, who once broke the news on Weibo that a listed company had conspired with the board to manage market value.
“The fundamental purpose of market value management is to improve the quality of listed companies. Listed companies should effectively increase their awareness of compliance, operate in compliance with the law, operate in compliance, and use capital market tools to reasonably improve the level of corporate governance under the premise of compliance with laws and regulations, and resolutely resist’ Pseudo-market value management’.”The spokesperson of the China Securities Regulatory Commission once again emphasized its regulatory attitude towards “pseudo-market value management.”
Although it is necessary to manage the market value of listed companies, it is not allowed to conduct market manipulation, insider trading and other illegal and criminal activities in the name of market value management. As for the consequences of such illegal acts, the investigation and handling of the above-mentioned cases have given answers. It is also a warning for listed companies: market value management must follow the right path, and the evil path will inevitably suffer from evil results.
In addition, the seizures of the above-mentioned major market manipulation cases also revealed an important signal. Through the platform of the Working Group on Combating Illegal Activities in the Capital Market, the coordination mechanism between securities regulatory agencies and public security and judicial agencies has become more and more smooth.The comprehensive law enforcement system of “full coverage monitoring, full chain attack, and all-round accountability” has been gradually improved. Under such a system of comprehensive monitoring, high-efficiency investigation and handling, multi-departmental collaboration, and three-dimensional accountability, violations of laws and regulations in the capital market will be hidden.
At present, the three-dimensional accountability system in which administrative law enforcement, civil recovery and criminal punishment are connected and mutually supportive has also made positive progress. On September 18, the Procuratorate Office of the Supreme People’s Procuratorate in the China Securities Regulatory Commission was inaugurated and established. This fully reflects the Supreme People’s Procuratorate’s high attention and strong support for capital market law enforcement and judicial work, which is conducive to the overall improvement of the capital market law enforcement and judicial level and further improvement Combining efforts to combat securities violations and crimes. On September 23, at a press conference of the State Council Information Office, the Supreme People’s Court stated that it was working to revise the judicial interpretation of civil compensation for securities misrepresentation to provide investors with stronger judicial protection.
the author thinks,The combined force of law enforcement and judicial forces in the capital market has become more powerful, sending a clear signal of “zero tolerance” to the market. Those companies, institutions or individuals that attempt to continue to manipulate the market and implement insider trading under the banner of “market value management” You can try the power of this comprehensive and three-dimensional accountability system.
Author of this article: An Ning, Source: Voice of Securities Daily, original title: “Ye Fei’s Caught Sends a Clear Signal”
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