1. In terms of external supervision, it is necessary to strengthen the supervision of the securities market and improve the supervision level of the securities market.
The "rat warehouse" is usually hidden. Fund managers often use other independent and unrelated third parties to open accounts, and such accounts are extremely concealed. This puts higher demands on the regulatory authorities.
2. In terms of internal control, it is necessary to improve the corporate governance of fund companies and strengthen the internal control system of companies.
On the one hand, fund companies need to establish a sound organizational structure, clear division of responsibilities, effective checks and balances, and reasonable incentives and constraints to maintain the company's standardized operation and safeguard the interests of fund share holders;
On the other hand, it is necessary to establish a scientific, reasonable, tightly controlled and efficient internal control system, formulate a scientific and perfect internal control system, keep the operation legal and compliant, and keep the company's internal control sound and effective.
3. It is suggested that once the "rat warehouse" is found, the regulatory authorities should ban the relevant responsible persons from the market and investigate their legal responsibilities. In addition to dealing with the parties seriously, the company should also bear joint and several responsibilities and accept serious treatment.
For unfair transactions that spread false information, contradict themselves and induce small and medium investors to take the bait, the regulatory authorities must strictly supervise them through scientific and technological means. Once investigated, it is necessary to severely deal with institutional investors such as illegal fund companies, confiscate their illegal income, stop their trading behavior, and even order them to withdraw from the market.
4. Improve the effectiveness of investor protection. In addition to reminding relevant institutions to strengthen self-discipline, it is more important to improve the market supervision system and improve the effectiveness of supervision.
At the same time, we should also try our best to come up with practical measures to make institutional investors become real investors with "excellent professionalism, perfect governance, integrity and compliance, and stable operation", rather than bigger speculators.
In short, in order to further effectively play the important role of institutional investors in promoting the healthy and stable development of the capital market, efforts must be made to standardize investment. Only by improving the effectiveness of market supervision and the fairness of market system can we truly achieve the three bottom lines of "rat warehouse", unfair trade and interest transmission.
In the first half of 20 14, the "rat-catching storm" swept through the fund industry, which led to the industry falling into a state of silence, and many senior executives left their jobs one after another. Since the beginning of this year, the number of fund managers has changed as many as 396 times, which is almost equivalent to the number of changes in 20 12, and nearly 100 fund managers have left their jobs. The sensational Bosera Fund Ma Le case has temporarily come to an end. Huaxia Fund has also been notified by the China Securities Regulatory Commission, which is related to some accounts suspected of insider trading. Recently, many institutions in the capital market have been involved in insider trading.
Recently, many cases of "rat warehouses" in the capital market have entered the judicial process, and the introduction of "big data analysis" by the regulatory authorities to investigate and deal with "rat warehouses" has achieved remarkable results. However, due to the lack of relevant institutional guarantees and the low cost of illegal activities, the "rat warehouse" is full of helplessness behind the increased supervision.
20151510.30, Zhang Xiaojun, spokesman of the CSRC, announced that it planned to take regulatory measures to order five fund companies, including Huaxia and Haifutong, to make rectification within a time limit ranging from 3 to 6 months, during which they suspended new business, accepted the registration of their publicly offered fund products, and took regulatory measures to order China Post to wait for 6 months. Compared with the previous investigation of a large number of fund managers suspected of "rat warehouses", this is the first time that the CSRC has punished fund companies involved in "rat warehouses" in batches.
In response to the regulatory measures of the CSRC, many market participants are worried that this will affect the development of fund companies and even have a negative impact on the stock market. In this regard, Li Daxiao, chief economist of Ying Da Securities, believes that this measure may play a certain role in eliminating the stock market bubble in the short term and protect the legitimate rights and interests of investors, especially the rights and interests of fund holders in the long term. Dong Dengxin, director of the Institute of Financial Securities of Wuhan University of Science and Technology, believes that the power of administrative punishment of the CSRC is very limited, and fund companies need to bear the liability for compensation to investors damaged by "rat warehouses", but this requires the cooperation of judicial procedures.