The Measures for the Supervision and Administration of Integrity in Securities and Futures Markets (hereinafter referred to as the Measures) is revised and improved on the basis of the current Interim Measures for the Supervision and Administration of Integrity in Securities and Futures Markets (hereinafter referred to as the Interim Measures). The Interim Measures was formally implemented in September 20 12, and further revised and improved in 20 14. It is the first capital market integrity regulation formulated by the CSRC, which is praised as filling the blank of "combining the rule of law with integrity" and was selected as one of the "Top Ten Cases of National Integrity Construction System Innovation" in the first National Integrity Forum.
Since the implementation of the Interim Measures for more than five years, under the support of a unified and comprehensive integrity file database in the securities and futures market, integrity information has been integrated internally and information sharing and cooperation has been opened to the outside world. By enriching the credit constraints and incentives, a three-dimensional credit supervision system in the capital market has been established, which has achieved a great leap in law enforcement efficiency and promoted positive results in the credit construction in the capital market.
In recent years, the construction of multi-level capital market has been deepened, the market level has been improved day by day, the market subjects have been further increased, and the market products have been further enriched, which has put forward many new demands for the integrity supervision of the capital market; To implement the requirements of comprehensive and strict supervision according to law, it is necessary to further enrich and improve the supervision mechanism of clean government and give play to the "reinforcing" role of clean government supervision. In particular, the level of integrity in the capital market is not high enough, and some aspects of dishonesty are still outstanding. However, there are still some vacancies and deficiencies in the Interim Measures, which are difficult to meet the needs of the new situation.
Therefore, based on the characteristics of the capital market as an information market and a credit market, the CSRC revised the Interim Measures in combination with the relevant national requirements and the reality of the capital market, and publicly solicited opinions from the public on 20 17 12 1. As of 65438+February 3 1, the public consultation ended, and the CSRC * * * received 66 feedback opinions. After comprehensive consideration, the reasonable opinions on the specific normative contents of the Measures are adopted. The CSRC will carefully study the opinions and suggestions that do not fall within the scope of this regulation adjustment or belong to the specific implementation level, and pay attention to them in the future supervision work and the formulation of other relevant regulations and normative documents.
The revised Measures consists of six chapters and 50 articles, including general provisions, collection and management of credit information, disclosure and inquiry of credit information, credit restraint, encouragement and guidance, supervision and management, and supplementary provisions. This revision mainly focuses on seven aspects:
First, it has expanded the subject scope and information content scope of credit information coverage, and realized the "full coverage" of credit supervision in the capital market. Incorporate important market entities such as securities and futures market investors, new third board listed companies, regional equity market operators and related enterprises, securities and futures media institutions into the scope of credit files; Information of breach of contract and dishonesty in credit trading activities such as margin trading and securities pledge repurchase, information of breach of contract and dishonesty of bond issuers and guarantors, information of serious dishonesty of market entities such as refusal to implement effective administrative punishment, regulatory measures, refusal to cooperate with regulatory inspection or investigation, improper interference with regulatory law enforcement, and refusal to perform the reached securities and futures dispute mediation agreement are included in the scope of credit files.
The second is to establish a "blacklist" system for publicity of major illegal and untrustworthy information. Publicize illegal and untrustworthy information that seriously infringes on the legitimate rights and interests of investors, such as administrative punishment, market ban, securities and futures crimes, refusal to cooperate with supervision, inspection or investigation, and refusal to implement the effective punishment decision, and the market reflects strongly.
The third is to establish a good faith commitment system in market access and strictly control market access. The relevant parties involved in the application for administrative license shall submit a written commitment to ensure that the application materials are true, accurate and complete, and will participate in the securities and futures market activities honestly and legally.
The fourth is to establish a credit scoring management system for major market players and implement credit classification supervision for major market players.
The fifth is to establish a "green channel" system for administrative licensing, encourage trustworthiness, and implement a priority review system for applicants with good integrity in administrative licensing matters.
Sixth, establish and improve the inquiry system of credit status among market entities, and strengthen the self-credit constraint in market trading activities. It is required that major market institutions, securities companies and securities service institutions must inquire about the credit files of relevant entities when handling account opening business, conducting credit business links, and hiring senior managers and employees to engage in securities services and other market activities, and implement corresponding credit incentives and constraints according to regulations to ensure good market access, keep the "black sheep" with serious illegal and untrustworthy behaviors out of the capital market, and purify the market credit environment.
The seventh is to strengthen the integrity constraint of post-event supervision. It is an important factor to incorporate the inquiry of credit files into all processes and links of supervision as an important factor to take supervision and law enforcement measures.
Order of China Securities Regulatory Commission
No. 139
The Measures for the Supervision and Administration of Integrity in Securities and Futures Markets have been considered and adopted at the 7th Chairman's Office Meeting of China Securities Regulatory Commission on 20 17 16 5438+07, and are hereby promulgated, and shall come into force as of July/0/20 1 day.
Chairman of China Securities Regulatory Commission: Liu.
2065438+March 28th, 2008
For details of the Measures for the Supervision and Administration of Integrity in Securities and Futures Markets, please refer to official website of China Securities Regulatory Commission.