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A seminar for” the construction of multi-level capital market and the protection of investor interests” was held on May 7 by Shenzhen Stock Exchange and Securities Law Research Association of China Law Society. Chen Dongzheng, the president of Shenzhen Stock Exchange and Zhu Congjiu, assistant chairman of the China Securities Regulatory Commission, and Xi Xiaoming, the vice-president of the Supreme People's Court made speeches in the meeting. Ms Song Li Ping, the general manager of Shenzhen Stock Exchange chaired the meeting.
Chen Dongzheng said the rapid development of the capital market and the innovation of financial products and business accelerated the need for protection of investor interests and to accelerate the construction of the direct delisting system would be an effective measure to improve the system for inventors’ protection.
Chen Dongzheng stressed, in view of the problems of the current delisting system in the back-door listing, insider dealing and speculation, the direct delisting system would abandon the traditional long-time delisting warning system in three aspects: direct delisting, quick delisting and eliminating speculation by chance of back-door listing.
Chen Dongzheng said the construction of direct delisting system required supporting measures to make sure the related implementation. The improvement of civil judicial relief system for securities affairs would be the key defense line for protecting the interests of investors. The perfection of lawsuit means, especially for system construction for the investor protection fund would be the next effective measures for investor protection. He indicated that the subrogation litigation would be applied on the Main Board and the SME Board after the success of trial On ChiNext Board.
Xi Xiaoming said the Supreme People's Court would keep on improving judicial interpretations and judicial policies to provide judicial safeguard and judicial conduction for the development of securities market.
Over 160 guests from different walks attended the meeting and made resentful discussions regarding four themes: the investor projection in judicial relief system, the investor projection in direct delisting on ChiNext Board, the investor projection in innovative business in securities market and legal problems in the construction of multi-level capital market.
