The Supreme Law issued a judicial security for deepening the reform of the New Third Board and the establishment of a Beijing Stock Exchange

Xinhua News Agency, Beijing, June 24th (Reporter Luosha) The Supreme People's Court issued several opinions on the reform of the New Third Board and the establishment of a Beijing Stock Exchange on the 24th, giving full play to the role of the people's court's trial function to ensure the deepening of the New Third Board Reform and the establishment of the Beijing Stock Exchange to protect the legitimate rights and interests of small and medium -sized enterprises and investors.

According to the opinion, the first instance of securities civilian commercial and administrative cases related to the management function of the Beijing Stock Exchange as the defendant or a third party shall be under the jurisdiction of the Beijing Financial Court. In the first instance of financial civil and commercial cases such as securities issuance disputes, securities underwriting disputes, securities support contract disputes, securities listed sponsorship disputes, securities listing contract disputes, securities listing contract disputes, securities listing contract disputes, securities trading contract disputes, and securities fraud liability disputes. The court's pilot concentrated jurisdiction.

The opinions clearly proposed that high -quality judicial services support SMEs with the help of the capital market to become bigger and stronger, and requires supporting securities intermediary agencies to serve SMEs listed listing and financing. Adhering to the "three public" principles of the capital market to reduce the cost of financing transactions in SMEs in accordance with the law, optimize trial execution procedures to reduce the cost of litigation of innovative SMEs.

Opinions emphasize that the basic layer of the New Third Board, the innovation layer and the Beijing Stock Exchange market illegal criminal behavior. For the issuer and the securities intermediary agency to collude to conceal important facts in the securities issuance documents, or make up major false contents, as well as the issuance review, registered staff to conspiracy, bribery or receiving benefits, they strictly investigate criminal responsibility in accordance with the law. Severe punishment of illegal disclosure, not disclosing important information, insider transactions, using uninterrupted information transactions, manipulating the securities market, memorizing the interests of the interests of listed companies, increasing the punishment of property in accordance with the law, and strictly controlling probation.

The opinions also emphasized that it is necessary to prevent listed companies and listed companies from harming the legitimate rights and interests of investors through bankruptcy procedures. When the People's Court tried the bankruptcy and reorganization case, if the listed company involved asset transactions in the process of bankruptcy reorganization and reached major asset reorganization standards, it should strengthen communication and collaboration with the securities regulatory department and securities trading venues, and urge the company and related entities to follow the law according to law. Perform the corresponding procedures, pay attention to the compliance of injecting assets in the judicial procedure, etc., and punish illegal and illegal acts that avoid securities supervision and damage the legitimate rights and interests of the company and investors in accordance with the law.

[Editor in charge: Xu Haizhi]

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