Original title: Li Keqiang signed an order of the State Council to promulgate the “Measures for the Implementation of the Party Commitment System for Administrative Enforcement of Securities and Futures” Source: Xinhuanet
Xinhua News Agency, Beijing, November 29. Premier Li Keqiang of the State Council recently signed an order of the State Council to promulgate the “Measures for the Implementation of the Party Commitment System for Administrative Enforcement of Securities and Futures” (hereinafter referred to as the “Measures”), which will come into force on January 1, 2022.
The “Measures” thoroughly implement the decisions and deployments of the Party Central Committee and the State Council on advancing the construction of capital market infrastructure and the requirements of the securities law, summarize the pilot experience, and clarify the basic procedures in accordance with the law, strictly limit the scope of application, and improve the supervision and control mechanism to ensure securities and futures administrative enforcement The parties promised to implement the system in an open and fair manner, effectively protect the legitimate rights and interests of investors, improve the effectiveness of law enforcement, prevent moral hazards, and achieve good social and legal effects.
There are 21 articles in the “Measures”, which mainly stipulate the following contents: First, it is to clarify the connotation and applicable principles of the party’s commitment system for securities and futures administrative enforcement, and stipulate that the party’s commitment to the securities and futures administrative enforcement refers to the securities regulatory agency of the State Council for the unit suspected of violating securities and futures laws. Or during the investigation by the individual, the party under investigation promises to correct the suspected illegal act, compensate the relevant investors for losses, eliminate damage or adverse effects, and is approved by the securities regulatory agency of the State Council. After the party fulfills the promise, the securities regulatory agency of the State Council terminates the administrative investigation of the case The law enforcement method stipulates that its implementation shall follow the principles of fairness, voluntariness and good faith. The second is to stipulate the basic procedures for the application of securities and futures administrative law enforcement parties’ commitments, including application, acceptance, negotiation, determining the amount of commitment money and signing the commitment recognition agreement, fulfilling the commitment recognition agreement, suspending the investigation, and terminating the investigation. The third is situations where the parties’ commitments are clearly not applicable to securities and futures administrative enforcement, including: the parties have been sentenced to criminal penalties or administrative penalties for securities and futures crimes and have not exceeded a certain number of years; suspected of securities and futures crimes should be transferred to judicial authorities for handling in accordance with the law; suspected of securities and futures violations The circumstances are serious and the social impact is bad; there are no new facts or new reasons for re-application for the same case, or failure to perform or incomplete performance of the promise due to own reasons, re-application for the same case, and the State Council’s securities regulatory agency based on the principle of prudential supervision. Other circumstances promised by the parties to administrative law enforcement are not applicable. The fourth is to clarify the use and management methods of the commitment funds, and stipulate that if investors suffer losses due to the suspected illegal acts of the parties, they can apply for reasonable compensation to the commitment fund management agency, or obtain compensation through other means such as filing civil compensation lawsuits against the parties in accordance with the law; If compensation is obtained through other channels, it is not allowed to apply to the commitment fund management agency for compensation for the part that has been compensated. The fifth is to clarify the supervision and restriction mechanism, including: the securities and futures administrative law enforcement parties promise that the work handling department and the investigation department are independent of each other; the securities regulatory agency of the State Council establishes a collective decision-making system, discusses and decides major issues, and implements them after approval by the relevant person in charge; is responsible for securities The personnel who undertake to work by the parties to the futures administrative law enforcement shall abide by the relevant work discipline and avoidance regulations; implement corresponding credit disciplinary measures for the securities and futures administrative law enforcement parties who violate the principle of good faith.
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