the securities self-regulatory agency is an organization that conducts self-regulation on the securities market activities through institutional conventions, articles of association, guidelines and detailed rules. Self-regulatory organizations generally implement membership system. Securities institutions and other institutions that meet the requirements may apply to join the self-regulatory organization as its members. Such as the Securities Association, stock exchange, etc. China's self-regulatory agencies mainly include: China Securities Association, Shanghai Stock Exchange and Shenzhen Stock Exchange.

Features: 1. Provide guarantee for organizing fair centralized bidding transactions, announce the real-time market quotation of securities transactions, and make a stock market quotation table according to trading days and publish it.

2. handle the suspension, resumption or termination of listing of stocks and corporate bonds in accordance with the provisions of laws and administrative regulations.

3. When the normal trading of securities is affected by unexpected events, the stock exchange may take technical suspension measures; The stock exchange may decide to temporarily suspend trading due to unexpected events of force majeure or to maintain the normal order of securities trading; When a stock exchange adopts a technical suspension or decides to temporarily suspend its trading, it must report to the China Securities Regulatory Commission in a timely manner.

4. Real-time monitoring of securities transactions in the exchange, and reporting abnormal transactions according to the requirements of the State Council securities regulatory authority; Supervise the disclosure of information by listed companies, and urge listed companies to disclose information timely and accurately according to law.

5. formulate specific rules for centralized bidding of securities in accordance with securities laws and administrative regulations, formulate rules for the management of members of stock exchanges and business rules for employees of stock exchanges, and report them to the the State Council securities regulatory authority for approval.

6. give disciplinary action to securities traders who violate the trading rules of the stock exchange; If the circumstances are serious, its trading qualification may be revoked and it is forbidden to enter the market for securities trading.

expansion: concept and establishment

A securities registration and settlement institution is a non-profit legal person that provides centralized registration, depository and settlement services for securities transactions.

the establishment of a securities registration and settlement institution must be approved by the securities regulatory authority of the State Council, and the following conditions should be met: (1) its own funds are not less than RMB 2 million; (2) Having places and facilities necessary for securities registration, custody and settlement services; (3) The main management personnel and business personnel must have the qualification of securities practice; (4) Other conditions stipulated by the the State Council Securities Regulatory Authority. The name of a securities registration and settlement institution shall indicate the words securities registration and settlement.

Functions

Securities registration and settlement institutions perform the following functions: (1) Establishment of securities accounts and settlement accounts; (2) Custody and transfer of securities; (3) Register of securities holders; (4) Clearing and settlement of listed securities transactions in stock exchanges; (5) distributing securities rights and interests as entrusted by the issuer; (6) Handling inquiries related to the above business; (7) Other businesses approved by the State Council Securities Regulatory Authority.

Responsibilities

The responsibilities of a securities registration and settlement institution include: (1) It shall provide the list of securities holders and relevant information to the securities issuer; (2) According to the results of securities registration and settlement, the fact that securities holders hold securities shall be confirmed, and the registration information of securities holders shall be provided; (3) It shall ensure the truthfulness, accuracy and completeness of the register of securities holders and the registration and transfer records, and shall not forge, tamper with or destroy them; (4) The original vouchers for registration, custody and settlement shall be properly preserved, and the preservation period of important original vouchers shall be no less than 2 years. 5. The following measures should be taken to ensure the normal operation of the business: ① having necessary service equipment and perfect data security protection measures; (2) establish and improve the management system of business, finance and security; ③ Establish a sound risk management system.