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The SZSE recently promulgated the Business Guidelines for Members to Continuously Promote Appropriate Management of ChiNext Investors (hereinafter referred to as “Guidelines”), explicitly specifying that securities companies shall take further step to strengthen client trading service, deepen the investor education, disclose risks and improve the management of client trading, with the aim at further pushing forward and deepening the building of the system for the appropriate management of ChiNext investors.
The SZSE person in charge of the case expressed that the appropriate management of investors is an important fundamental system construction in China’s capital market. The system provides the important guarantee for the successful launching and stable operation of the ChiNext board in the full implementation of ChiNext board; and the system also plays the positive role in advertising and popularizing the rule and idea of appropriate management in securities market, intensifying the risk awareness of participants and promoting the securities companies to classify and manage clients.
The person also pointed out that with the building of China’s multi-layer capital market system carrying forward, it has been the basic requirement for the further development of the market to build the investor protection system focusing on appropriate management, providing appropriate products and service for clients, getting the system construction adapted to the risk perception and risk tolerance capability of clients.
The “Guidelines” also gives the specific requirements for securities companies to open ChiNext stock trading for clients, requiring the securities companies to pay interrupted attention to clients and guide the rational investment of clients. At the same time, the “Guidelines” improve the requirements for the securities companies to make the continued risk disclosure. The “Guidelines” clearly requires the securities companies to conscientiously carry out the regulatory measures, regulate the trading conducts of clients and practically safeguard the transaction order of market.
Lastly, the person stressed that the appropriate management of investors is the long-continued work in capital market in great need of joint effort of all sides in the circle. And the CSRC promulgated the “Provisions on Strengthening Management of Securities Brokerage Business”, placing the emphasis on building and perfecting the system for the appropriate management of clients.
