News summary
The four departments issued the "Opinions on Several Issues Concerning Handling Securities and Futures Illegal and Criminal Cases"batmanpinballmachine, aims to severely crack down on illegal activities such as financial fraud and insider tradingbatmanpinballmachineStrengthen the judicial connection between law enforcement and law enforcement in the capital market.
Newsletter text
The four departments of the Beijing Procuratorate jointly issued the "Opinions on Several Issues Concerning the Handling of Illegal and Criminal Cases in Securities and Futures"[The Supreme People's Procuratorate, the Supreme People's Court, the Ministry of Public Security, and the China Securities Regulatory Commission jointly issued new opinions on cracking down on illegal and criminal activities in securities and futures] In accordance with the law, the four departments recently issued the "Opinions on Several Issues Concerning the Handling of Illegal and Criminal Cases in Securities and Futures". The opinions clarify the overall requirements for strictly cracking down on illegal and criminal activities in securities and futures in accordance with the law, strengthen the construction of a full-chain crackdown and all-round accountability system, and will be implemented from the date of promulgation. The "Opinions" consist of seven chapters and 31 articles. The core contents include overall requirements, the connection between administrative law enforcement and criminal justice, the jurisdiction of criminal cases, the collection, review and application of evidence, strict crackdowns in accordance with the law, and the improvement of cooperation mechanisms. Guo Li, a professor at Peking University Law School, believes that the promulgation of the "Opinions" is an important measure to implement capital market policies and demonstrates the determination to safeguard investors 'rights and interests and protect capital market order. In terms of overall requirements, the "Opinions" emphasize a zero-tolerance attitude, insist on strictly cracking down on securities and futures crimes in accordance with the law, increase investigation and punishment, and strictly control the application of suspended sentences. At the same time, the opinion proposes to strengthen work coordination, build consensus on law enforcement and judicial affairs, and improve the level of professionalism. The "Opinions" also stipulate in detail the jurisdiction of securities and futures crime cases, clarify the responsibilities of relevant departments, and provide legal support for effective accountability. Zheng Naiquan, director of Beijing Zhongyan Law Firm, believes that the new opinion clarifies the jurisdiction of criminal cases and facilitates the investigation and criminal prosecution of criminal acts. The opinion also specifically pointed out that the entire chain has cracked down on financial fraud and strengthened the crackdown on relevant responsible persons such as securities issuers, controlling shareholders, and actual controllers. At the same time, perpetrators who actively cooperate with the investigation, return stolen goods and compensation, and sincerely confess guilt and repent can be given lenient punishment in accordance with the law. In terms of improving the coordination and cooperation mechanism, the "Opinions" propose to establish and improve an information notification mechanism and a joint special action mechanism for law enforcement and justice to improve law enforcement efficiency and effectiveness. Criminal responsibility shall be investigated in accordance with the law for acts that hinder staff of regulatory agencies from performing their duties through violence or threats. The release of the "Opinions" marks an important step for my country in cracking down on illegal and criminal activities in securities and futures, which will help further standardize market order, protect the interests of investors, and promote the healthy development of the capital market.
