Fund practitioners can buy their own stocks, but they need to report in advance. 20 13 The newly revised Fund Law released the restrictions on the securities investment of fund employees for the first time. Article 18 of the Fund Law stipulates that the directors, supervisors, senior managers, other employees, their spouses and interested parties of the fund manager who publicly raises funds shall report to the fund manager in advance and shall not have conflicts of interest with the fund share holders. The fund manager of a publicly offered fund shall establish a management system for the declaration, registration, examination and disposal of securities investment by the personnel specified in the preceding paragraph, and report it to the the State Council Securities Regulatory Authority for the record.

On February 20 13, the fund industry association issued the "Guidelines on Securities Investment Management of Fund Employees (Trial)", which further clarified the requirements for securities investment behavior of fund employees, guided the industry to do a good job in self-discipline of securities investment management of fund employees, and standardized the securities investment behavior of fund employees.

1. The stock is a part of the ownership of the joint-stock company, and it is also the ownership certificate issued by the joint-stock company. It is a kind of securities issued by a joint-stock company to all shareholders, as a shareholding certificate to obtain dividends and bonuses. Stocks are long-term credit instruments in the capital market and can be transferred and traded. With it, shareholders can share the company's profits, but also bear the risks brought by the company's business mistakes. Each share represents the shareholder's ownership of the basic unit of the enterprise. Every listed company will issue shares.

2. The ownership of the company represented by each share in the same category is equal. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company.

3. Stock is an integral part of the capital of a joint-stock company and can be transferred and traded. It is the main long-term credit tool in the capital market, but the company cannot be required to return its capital contribution.

4. Main features:

1) non-returnability, once the stock is sold, the holder cannot return the stock to the company, and can only recover the principal by selling it in the securities market. Stock issuing companies can not only buy back or even buy back all the issued shares, withdraw from the stock exchange, but also return to unlisted enterprises.

2) Risk, buying stocks is a kind of venture capital.

3) Liquidity: As a kind of capital security, stock is a flexible and effective fund-raising tool and negotiable securities, which can circulate in the securities market through free trading and free transfer.

4) profitability.

5) the right to participate.