Supreme Law: Four aspects to escort the New Third Board and the North Stock Exchange reform and development

In order to give full play to the role of the people's court's trial functions, ensure the deepening of the reform of the New Third Board, the establishment of the Bei Stock Exchange to promote the legitimate rights and interests of small and medium -sized enterprises and investors, the Supreme People's Court released the "About the reform of the New Third Board and the establishment of the New Third Board on June 24 Beijing Stock Exchange provides several opinions of judicial guarantee (hereinafter referred to as "Guarantee Opinions").

Ye Lin, a professor at the Law School of Renmin University of China, said in an interview with the Securities Daily that the listed company of the Beijing Stock Exchange was mainly innovative SMEs, with a certain scientific and technological content but in the early stage of development. The "Protection Opinions" mainly care for the development of enterprises and reduce its litigation and financing costs. This is a progress and change of the highest law on the multi -level capital market.

At present, the "progressive" market pattern of the new three board, innovation layer and Beijing Stock Exchange is more clear. The number of stable, the number of listed companies has reached 100, and the "leading" leverage has gradually emerged.

"Protection Opinions" Based on the reform practice of deepening the reform of the New Third Board and the establishment of the Beijing Stock Exchange, the characteristics of the NEEQ listed companies and the Beijing Stock Exchange listed company mainly provides relevant judicial security from the following four aspects:

The first is to comprehensively grasp the significance and overall arrangements of the reform of the New Third Board and the establishment of the Beijing Stock Exchange, and deeply understand the judicial needs of the "progressive" market structure of the multi -level capital market, properly review the relevant cases in accordance with the law, and develop the healthy development of SMEs Create a good judicial environment with the construction of a multi -level capital market system.

The second is to protect the reform of the New Third Board in accordance with the law and the establishment of a major deployment of the Beijing Stock Exchange. It is clear that the court can refer to the rules, regulatory documents and regulatory documents and regulations, regulatory documents and regulations formulated by legal procedures for the applicable securities regulatory authorities and securities trading venues. The relevant provisions of business rules are concentrated on the concentrated jurisdiction of the Beijing Stock Exchange and its listed companies.

The third is to support SMEs through the capital market with high -quality judicial services, and accurately determine the issuer, organizational brokerage and other securities intermediary agencies in accordance with the "progressive" market characteristics and the entrepreneurial growth of small and medium -sized enterprises in combination with the "progressive" market characteristics and the entrepreneurial growth characteristics of small and medium -sized enterprises. Civil liability for false statement, accurately identify the effectiveness of the "performance on the gambling agreement" and the "fixed increase" nature terms, and optimize the trial execution procedure to reduce the cost of innovative SMEs.

Fourth, to effectively protect investors' legitimate rights and interests in accordance with the law, severely crack down on illegal crimes, and strictly punish the office of illegal fundraising in the name of the new three boards, and effectively prevent listed companies and listed companies from harming the legitimate rights and interests of investors through bankruptcy procedures, and standardize the securities investment consulting institutions in accordance with the law. Relevant investment recommendations services, further improve securities litigation and diversified solution mechanisms of disputes.

Zhou Yunnan, the founder of Beijing Nanshan Investment, told a reporter from the Securities Daily that the "Protection Opinions" fully safeguarded the development and growth of the enterprise at the professional standard, protecting the legitimate rights and interests of investors, and helping the high -quality development of small and medium -sized enterprises in innovation.

Liu Jing, a new chief analyst at Shen Wanhongyuan's specialized specialty, told a reporter from the Securities Daily that the "Protection Opinions" is of great significance, which not only clarifies the legal status of the Beijing Stock Exchange, but also helps the healthy development of the market.

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