1, division of labor
The business departments of China Securities Regulatory Commission are responsible for investigating and dealing with securities and futures violations (not filed) within their business scope.
The Inspection Bureau of the CSRC (hereinafter referred to as the Inspection Bureau) is responsible for organizing the investigation of major securities and futures cases, comprehensive cases involving several offices, comprehensive cases across provinces and departments and securities and futures cases assigned by the leaders of the CSRC. The Inspection Bureau may also transfer some cases to the local securities and futures regulatory authorities for investigation and handling according to relevant norms.
Step 2 file a case
No unit or individual may accept complaints and reports on securities and futures violations. All departments and offices of the CSRC shall promptly review or conduct preliminary investigations on the materials reported or transferred by other units and the problems found in daily supervision. After examination or preliminary investigation, if it is deemed necessary to file a case for investigation, a proposal for filing a case shall be filled out, and relevant materials (accusation materials, accusation materials, etc.) shall be submitted to the vice chairman in charge for approval, and the inspection bureau shall file a case for investigation. In the case of securities and futures that have been filed, if the circumstances are serious and emergency measures need to be taken, the respondent may be suspended from engaging in securities and futures business or take other measures according to law with the approval of the chairman of the CSRC or the vice-chairman authorized by the chairman.
Step 3 investigate
For securities and futures cases that have been filed, a special person or an investigation team shall be appointed to investigate according to the circumstances of the case. The investigation and evidence collection shall be attended by two or more investigators. If the case-handling personnel think that they have an interest or other relationship with the case, they shall apply for withdrawal. If the respondent believes that the investigator has an interest in the case or has other relations that may affect the fair handling of the case, he has the right to apply for the withdrawal of the relevant personnel. During the investigation, the investigators shall present their work permits and documents of the China Securities Regulatory Commission. Investigators should collect evidence in accordance with legal procedures, carefully examine the evidence, and if they are in doubt about the evidence, they should collect or supplement it again. If the respondent refuses to accept the investigation or refuses to carry out the order of submitting relevant documents and materials to the China Securities Regulatory Commission after two legal notices, the China Securities Regulatory Commission may suspend its securities and futures business according to law. Investigators should strictly abide by the confidentiality system in the process of case investigation.
4. Processing
After investigation, it is found that the person under investigation has not violated laws and regulations, and the case shall not be filed with the approval of the chairman of the CSRC or the vice chairman authorized by the chairman; If the circumstances are minor, if the respondent has admitted his mistake and properly handled the aftermath, it may be handled as appropriate according to law with the approval of the chairman of the CSRC or the vice-chairman authorized by the chairman. The inspection bureau puts forward punishment opinions on the verified securities and futures violations; For major cases of violation of laws and regulations, the Inspection Bureau shall discuss with relevant departments collectively and put forward punishment opinions.
Before the CSRC makes a decision on administrative punishment, the inspection bureau shall inform the parties of the facts, reasons and basis for making the decision on administrative punishment according to law. And inform the parties of their rights according to law. If a party requests a hearing, the China Securities Regulatory Commission shall perform the hearing procedure according to law. If the parties present new evidence in the hearing defense, which may lead to the change of punishment opinions, the inspection bureau shall report to the vice chairman in charge in time and re-study the punishment opinions. If the parties do not ask for a hearing or do not present new evidence or change the punishment opinions in the defense of the hearing, the inspection bureau shall also report to the vice-chairman in charge in time and formally issue and implement the punishment decision of the CSRC.
Step 5 perform
The inspection bureau is responsible for implementing the punishment decision of the CSRC on illegal cases of securities and futures. If a party refuses to accept the punishment decision of the CSRC, it may file an administrative reconsideration with the CSRC within 15 days from the date of receiving the punishment decision; You can also bring an administrative lawsuit directly to the people's court with jurisdiction within 3 months from the date of receiving the punishment decision. During the period of reconsideration and litigation, the punishment decision shall not be suspended.