The Investor Protection Bureau of the China Securities Regulatory Commission (referred to as the "Insurance Bureau") was formally established at the end of 2011 and is currently working. As an internal agency of the China Securities Regulatory Commission, the Investment Insurance Bureau is responsible for the overall planning, organization and guidance, supervision and inspection, and assessment and evaluation of investor protection in the securities and futures markets.
Main responsibilities
Including eight aspects: formulating securities and futures investor protection policies and regulations; responsible for the adequacy and effectiveness of investor protection in the formulation and implementation of securities and futures regulatory policies Evaluation; overall planning, organization, coordination, inspection and evaluation of investor education and services in the securities and futures markets; coordination and promotion of the establishment and improvement of investor service, education and protection mechanisms.
Study the investor complaint acceptance system, promote the improvement of handling processes and operating mechanisms, and organize relevant departments to handle investor consulting services; promote the establishment and improvement of a system for legal relief of investors' infringed rights and interests; supervise investors in accordance with regulations Management and use of protection funds; organizing and participating in domestic and international exchanges and cooperation among regulatory agencies on investor protection.
The Investment Insurance Fund will be incorporated into the Investment Insurance Bureau
It is reported that the China Securities Investor Protection Fund Co., Ltd. (hereinafter referred to as the "Insurance Fund") will be incorporated into the Investment Insurance Bureau. The Investment Fund is a wholly-owned subsidiary of the Ministry of Finance. budget allocation management unit. It was originally responsible for the reception and handling of investor complaints.
Information from the official website of the Investment Insurance Fund shows that the company was established in June 2005 and registered on August 30. It is a wholly state-owned protection fund company funded by the State Council and a one-time allocation from the Ministry of Finance for registration. The capital is 6.3 billion yuan. After it is put into operation, its main source of annual income is the interest generated when the subscription funds are frozen when new shares are issued. In 2011, the frozen funds for new share issuance totaled 17.83 trillion yuan.
Although the investment fund is a non-profit organization, its nature is that of a company. Its main responsibilities are to raise and operate investor protection funds, monitor the risks of securities companies, participate in the resolution of problematic securities firms, etc., and also undertake functions such as investor education and litigation disputes.
Zhuang Mu, general manager of the Investment Protection Fund, said at an online symposium on the Fund Channel of the Investor Protection Network that the next step for the Investment Protection Bureau is to establish a mediation and arbitration mechanism for investor disputes. It is necessary to change the understanding of the concept of investor protection and change the previous emphasis on financial institutions and neglect of investors' demands.
The establishment of the investor protection department dates back to 2010. At that time, the central bank proposed the idea of ??establishing a specialized financial consumer protection agency following the Federal Reserve, but this idea was never fully recognized in the industry. Judging from the current results, the “one plus three” separate management framework will eventually be adopted.
In addition to the Insurance Bureau of the China Securities Regulatory Commission, according to media reports, the Insurance Consumer Rights Protection Bureau under the China Insurance Regulatory Commission has also been established. The Insurance Regulatory Commission and the China Securities Regulatory Commission have established the Insurance Protection Fund and the Securities Investment Protection Fund, and the Banking Association also has a Consumer Protection Committee.