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To implement the overall plan of China Securities Regulatory Commission (CSRC) for the special campaign for investor education entitled “Be a Rational Investor”, give full play to the leading role of securities companies in investor education, and mobilize all forces for the purpose of investor education and protection, recently, Securities Association of China (SAC), Shanghai Stock Exchange (SSE), and Shenzhen Stock Exchange (SZSE), as guided by CSRC's Investor Protection Bureau, jointly held in Beijing the investor education and protection training courses for securities companies, with an aim to enhance frontline supervision and protection of investors' rights and interests, attracting 179 investor education staff from over 100 securities companies.
Jointly building a "grant platform" for investor education and protection
SSE and SZSE are constantly enhancing their frontline duty of market regulation and risk prevention under the requirement of strict overall regulation according to law, which has brought positive changes to the ecosystem of the capital market. Securities companies are the major participants in the capital market and a medium for introducing investors into the market, playing a crucial role in investor education and protection. This round of training will create a communication and exchanges platform for industrial associations, stock exchanges, and member companies, and further mobilize all forces in the market for investor education and protection, thereby securing the "protection network" for rights and interests of investors. According to an officer on investor education from SSE during the training, securities companies, especially investor education staff from these securities companies, play an indispensable role in establishing a preliminary external basic institutional framework for protection of investors' rights and interests, guiding investors to toward rational investment and enhancing their awareness of self-protection. An officer from relevant department of SZSE indicated that, as the work on investor education and protection progresses there would require a sounder mechanism to integrate market resources including securities companies, and a resource sharing platform for investor education. Officers from the Department of Investor Education and Dispute Resolution of SAC concluded that securities companies play a significant role in investor education and protection in the securities industry, and this round of training is conducive to promoting the working capabilities of investor education staff from securities companies. SAC will continue to strengthen the cooperation with SSE and SZSE to collaboratively facilitate the work of securities companies on investor education and protection.
Well-planned training courses that caters to the new work demands on investor education and protection against the new background SAC, SSE and SZSE take the opportunity of the training to elaborate on the new model, concepts and requirements of market regulation for investor education staff of securities companies. Instructors from the Investor Protection Bureau of the CSRC, SSE and SZSE are engaged in order to urge securities companies to implement the requirements on management of investor suitability and assume the responsibility of client transaction behavior management so as to jointly create a fair and orderly market environment. Based on the Measures on Management of Securities and Futures Investors Suitability and the scope of work of stock exchanges, they used case studies to illustrate the responsibility of frontline regulation of stock exchanges and the work on investor protection against the backdrop of current market regulation environment as well as the necessity and demand for establishing a member-based transaction regulation model. Security companies are asked to step up their efforts to promote investor education as required by market regulation, so as to encourage rational investment and raise the risk awareness of investors and their sense of gains in the capital market.
Recently, mobile new media represented by “we media” is cropping up. It has become a challenge for security companies to tap on the emerging “we media” trends to promote rational investment and risk awareness to realize investor education and protection. To increase efficiency, strengthen the awareness of intellectual property protection, and make the most of new media to innovate the form and content of the products, the training focus on addressing the tough issues in their daily education endeavors. Senior media persons and people from judiciary authorities were invited to deliver lectures to encourage security companies to think outside the box, increase the influence and coverage of investor education work.
Speaking of this one-and-a-half-day session, the trainees were most impressed by the “innovative” and “rich” contents of the courses. This training not only enables them to get a full picture of the requirements of security market supervision and related investment risks, but also unleashes innovation in their work method through internal exchanges amongst the trainees, who will keep in touch and apply what they learnt to their future work for better investor education and protection.
