Shang: a good job matching system for building and perfecting the legal system monitoring.

<P> Commission yesterday (24) held a special meeting to study, discuss the "Supervision and Regulation of Securities Companies", "Securities Risk Disposal Ordinance," the main spirit and content, research, deployment, implementation of both the "Regulations" of the specific .work. .</ P> <P> (http://) CSRC Chairman Shang Fulin said the two "Bill" was released, is the institutional infrastructure for capital markets, another major move, fully reflects the CPC Central Committee and State Council on the capital .market and the securities industry attention, care and support for the protection of legitimate rights and interests of investors, safeguard the normal order of securities markets, solid basis for the development of the securities industry, and promote stable and healthy development of capital markets has important significance. .He said it would do a good job building supporting systems, improve the legal system for supervision of securities companies. .</ P> <P> meeting held that, after ten years of reform and development, China's capital market institutional infrastructure was strengthened and continuously improve the quality of listed companies, securities companies improved significantly the overall situation, investors gradually improve the structure, the market .regulation to further strengthen, deepen reform of the market operation mechanism, the capital market has become an important part of the national economy, and enhance the vitality of economic development. .As the importance of China's capital market intermediaries, securities companies in the process of cultivation and development of capital markets play a very important role, but also in the process of development and gradually accumulated a number of issues. .The unified arrangements of the State Council and under the strong leadership, from August 2004, the SFC with the relevant departments, the judiciary and local government by combining prevention with control, in case-based, treating the symptoms, the general concept of the formation mechanism, risk treatment, daily monitoring .and promote the development of the industry three-pronged approach to reform and improve the custody of customer funds and other basic system, stable risk of the securities firm to crack down on illegal activities in support of innovation and development of quality measures such as securities companies, securities companies on the implementation of comprehensive management. .After three years of hard work, comprehensive management achieved noticeable progress, historical risk completely resolved, the securities business awareness of the compliance and risk management was enhanced markedly, the overall standardized business practices, industry as a whole and show a basic trend of steady and healthy development .. .</ P> <P> meeting noted that in October 2005 the NPC Standing Committee adopted the revised "Securities Law", "Company Law", in August 2006 and passed the "Bankruptcy Law." .These laws on securities and corporate governance of the basic system of the basic principles of risk makes provision for disposal. .New introduction of the "Supervision and Regulation of Securities Companies", "Securities Risk Disposal Ordinance" refine and implement the "Securities Act", "Company Law", "Bankruptcy Law" and other relevant provisions of the law, and further consolidate the comprehensive management of securities companies .results, and establish effective prevention and promptly resolve risk securities companies, securities companies to promote the healthy development of compliance management and new mechanisms. ."Two Regulations" the promulgation and implementation, in order to improve market access mechanism for securities firms, the good "entry-off" from the source to improve the quality of securities companies; improving securities companies continue to operate the system, improve corporate governance; strengthen supervision of securities companies .targeted and effective to protect the safety of customer assets to safeguard the legitimate rights and interests of clients; to encourage innovation and development of securities companies, securities firms innovative activities to promote a standardized and orderly conduct; market exit mechanism to establish securities companies, securities companies to implement risk of institutional arrangements for disposal .the legal system has laid an important basis for the securities companies to further strengthen and improve supervision, standardize the behavior of securities companies to prevent and reduce the risk of securities firms to protect the legitimate interests of customers and public interests, and promote the healthy development of the securities industry, has a very important .effect. .</ P> <P> Shang Fulin also implement the next phase of the two "Bill" put forward specific requirements: </ P> <P> first organizations of all securities and futures regulatory system supervision of cadres, securities companies and employees .Two seriously study the "Regulations", the securities regulatory cadres, securities practitioners fully understand the "Regulations" the significance of the introduction of a comprehensive understanding and grasp the "regulations" of the system and measures. .</ P> <P> Second, do a good job building supporting systems, improve the legal system for supervision of securities companies. .The timely amendment or repeal and the "Regulations" inconsistent or incompatible with the content, but also with the "Regulations" of the mandate to strengthen basic system construction, improve the system, timely development, introduction of new rules to better meet the stock market .further development. .</ P> <P> third is to improve the regulatory approach to improve the regulatory level, and enhance regulatory effectiveness. .To take effective measures in the approval, supervision, law enforcement and other aspects of the comprehensive implementation of two "Regulations" provisions, regulate business activities of securities companies, and severely punish illegal, efforts to protect the legitimate rights and interests of investors fall all the work .into practice. .</ P>.