[make investment better: Investor teachs series program]
[core viewpoint]
1, be opposite on behalf of the proposal " negotiable securities law " undertake modification, 600 thousand yuan of amerce carrying case on the head should increase, be suspected of crime should aggrandizement criminal responsibility.
2, foreign mature market to appearing on the market company finance affairs makes false, false statement is almost 0 patient.
3, no matter be the amount that punishs a case,go up, on the amount that still fines, had apparently 2019 increase execute the law the evidence of strength.
4, should encourage each to just wait for means to increase with award is informed against to appearing on the market the superintendency strength of the company.
5, to appearing on the market the company violates the tall fine of compasses, best can pass on investor.
Welcome to today's " finance and economics surveys the home " , I am the Zhang Gang of southwest negotiable securities. The theme that I make a speech today is: Represent speak without reservation, the shareholder is affording general satisfaction!
[news background]
Many delegate puts forward an opinion to suggest with respect to capital market development. On March 12, zhu Jiandi puts forward second reading, revise " " negotiable securities law " " the 193rd -- appear on the market company finance affairs makes a holiday, amount of superintendency orgnaization amerce is highest the condemnatory regulation of 600 thousand, tone fines amount on, increase at the same time build a holiday to appear on the market the criminal responsibility that the company is in charge of high.
Before this, on March 7, on the plenary session of Shanghai delegacy, fan Yun meets a chairman before card inspect Yi Huiman's face says, now " negotiable securities law " punishment carrying case on the head has 600 thousand yuan only, cannot solve a problem, cut leek like Zhao Wei, more than an accusation, add up ability punishs 700 thousand yuan. According to media coverage, standing committee adopts Zhu Jiandi formally already the delegate is second reading, this also is meant punish again " finance affairs makes a holiday " , " cut leek " will bring into legislative job.
The near future " People's Daily " on Guan Wei, offerred high affirmation to the delegate of call a spade a spade. Say on Guan Wei, the delegate spoke the shareholder's aspirations, respecting on the drop of normative market.
Be Ms. Fan Yun this by one of delegates of attention. Ms. Fan Yun, she points out, now " negotiable securities law " punishment carrying case on the head has 600 thousand only, cannot solve a problem, cut leek to earn a few like Zhao Wei 100 million, the result is punished come down to just be punished 700 thousand. A lot of delegates offer to want to revise " negotiable securities law " .
Not come singly but in pairs, another also offerred similar proposal on behalf of Mr Zhu Jiandi: To " negotiable securities law " should undertake modification, should increase to appearing on the market company information exposure breaks the law violate the amerce amount of compasses, increase the condemnatory strength that to appearing on the market company finance affairs builds false behavior even, the person that let make a holiday pays enormous price, and information announces illegal behavior to involve crime, should move the case send a judiciary processing, aggrandizement its criminal responsibility.
Speak of at present " negotiable securities law " on relevant punishment clause, wide get attention basically be two actually, one is the 193rd, this seals a top 600 thousand yuan when place common says namely. To the 223rd in the center, will look on the individual's fine, also be the level that is in opposite on the low side likewise.
To appearing on the market company information is announced not not truthless, accurate, complete, baleful even go making up this kind of behavior of false information, how is the market outside the condition handled?
We basically look, a very famous case that makes a holiday, be the United States peacefully company. It is successive undertake finance affairs makes a holiday for years, of its condemnatory strength big, can says is historical place infrequent. One, to it before CFO sentences 6 years of imprisonment, adscititious the amerce of 2000 much dollars.
To before CEO is put in prison 24 years, fine 4500 much dollars. Punishment is the lightest is employee of low-down of a position, he is before assistant cashier, he also should be sentenced be imprisoned 5 months, probation a year, but without fine, also do not have relevant accusation.
Will tell as mature market, to appearing on the market company finance affairs makes false, false statement is a 0 tolerant attitudes almost, average employee rank very low, if involve among them sentence, even if is to do not have crime, but also meet by corresponding punishment.
If be rank the word of very tall tall canal, time of sentences term of imprisonment will be longer, amount also is those who comparative is giant, not be current far " negotiable securities law " hundred thousands of yuan of RMB that sets can do decided business.
Another law case also is current place is wide get attention, be tesla before president, also be current CEO Mr Ma Sike. He is being sent push special when, he involved a very sensitive information. He says he is considering to undertake tesla be changinged demesne, and with 420 dollars every price, and he is being sent push special when, actually the share price of tesla is 340 dollars, also say the price difference among is very big.
After this message is released, caused tesla share price directly rise considerably. And complement is returned to say at the back of him, between trading process, you can consider shareholder sell piece, or you are flat continue hold goes down, wait to be changed demesne. He is sent ceaselessly push special and the action that formed add fuel to the fire to share price.
But subsequently card inspect of the United States can enter intervening investigation, the relevant administrative layer that discovery regards tesla as and include a company, do not have to the company change this thing to do demesne sufficient corresponding preparation, say information is announced so too too optional, can saying even is a false information.
The autumn 2018 when, mr Ma Sike and SEC namely inspect can reach American card to reconcile agreement, equestrian Si Kexian gives birth to him to want to resign tesla president one duty, but the position that retains his CEO, and should pay the fine of 20 million dollar, it is very big that he pushs the price that pays especially.
Additionally tesla company also should pay 20 million dollar, basically punish tesla what reason? It is it push the accusation of article without what supervise Masike adequately, use gregarious media to release a few information, especially these information are the information that lacks reliable basis, also can face very serious fine, and these responsibility people related the requirement, should dismiss etc, want to face these punishment.
We review again appear on the market among the company, the history go up to also had appeared to violate the condition that violates the information of compasses to announce action this kind similarly likewise under, result of its a few punishment. With Jin Yake ability is exemple, among the process that it declares material in IPO, empty is added 2008 and the business income first half of the year was mixed 2009 profit, be in at the same time the word among follow-up a few financial information, continue the deposit that empty increases profit and Xu Zengyin to go, a what kind of punishment result does it get as a result?
The punishment that card inspect meets is the penalty that implements 600 thousand yuan to this company as a result, and to relevant effective control the person is in the amerce with 900 thousand yuan, the word of other and relevant person, place with the 100 thousand amerce amount that differs to 300 thousand yuan. If the cost photograph of this gentleman with Masike is compared, it is differ in thousands ways really.
Resemble boundless blessing unripe branch additionally, its effective control person and president hold general manager Mr Luo Yongfu concurrently is to make a holiday in the round, and his income that 5 years half gross empty increases is 900 million multivariate, the fine that boundless blessing unripe division faces actually is exceedingly little, it punished 300 thousand yuan only.
And Shengketong sells final boundless blessing case too, now already more master beautiful fertile share. Carry the sentence that sells housing relevant a few shareholder actually, still still ensured from this quite rich and generous income. This is be in on the history A the question that fine passes little place to exist among condemnatory process.
[news background]
Since 2019, already had much home A because the company is suspected of financial problem be investigated by put on record. On Feburary 19, benefit source is purificatory issue announcement, the company is violated because of be suspected of information exposure breaking the law compasses, be met by card inspect investigation of put on record. On October 11, 2018, benefit source refines the finance affairs that admitted a firm makes a holiday. On January 22, kang Dexin announcement is violated because of be suspected of information exposure breaking the law compasses, be met by card inspect investigation of put on record.
Show according to Wind statistic, since 2019, include inspect of the silver-colored meeting that keep watch, card to meet, and hand in hand in the orgnaization such as place place, greatly to release 281 to violate compasses punishment record in all, involve 148 A appear on the market company. Amerce respect, since 2019, superintendency orgnaization is aimed at among them 152 violated compasses behavior to make amerce decision, total fine amount 116 million yuan. Violate compasses amerce amount to increased last year compared to the same period 375.00% , violate compasses amerce amount to decreased last year compared to the same period 77.03% .
From this year since, chinese card inspect can increase pair of punishment strength that close city firm apparently. Involve since the beginning of the year violate those who violate compasses act to appear on the market the company adds up to is 153, and the corresponding period also was last year last year arrived January in March the middle ten days of a month, involved company is 134, if going up, the amount wants how old without exception ten.
And will look from the measure that violates compasses punishment, mix this year photograph of the corresponding period was compared last year have considerably increase. Last year is 194, and the measure that violates compasses punishment this year is 286. Additional from A will look on the amount of the amount of the penalty that the company is penalized and amerce, also have a very apparent difference likewise, was 2018 when go up in the amount of the case of amerce, the amount is less.
But the amount is exceedingly much 2019, adding up to 2019 is more than 100 companies incur penalty, but there is bigger drop if go up in amount and was being compared 2018. In these more than 100 appear on the market the company is total the amount that is punished, it has 100 million only multivariate.
And 2018 1 to March the word of the middle ten days of a month, this fine is as high as 500 million multivariate. Nevertheless need points out those who come is, was 2018 namely among 500 million multivariate fine, light is riverside hair bank was occupied 400 million multivariate.
But if if eliminate drops Pu Fayin,going actually, the fine amount 2019 also is to want prep above far the level 2018, that is to say, no matter be to be on the amount of the case of amerce, on the amount that still fines, had apparently 2019 increase execute the law the evidence of strength.
Build a fairness, just, open market environment, should increase besides superintendency branch execute the law beyond strength, I feel same to also want to encourage each to just be increased to appearing on the market the superintendency strength of the company.
Central net letter does in inform against a mechanism to go up, established a first-rate standard, inform against main body to be able to pass the many channel such as government-owned net, Guan Wei and client end and small gain to register an user in order to undertake faceless, real name is mixed namely 3 kinds of means will undertake informing against, will tell to broad netizen, dispute often goes to the lavatory will be opposite a few violate those who violate compasses behavior to undertake appearing in the newspaper.
Chinese card inspect will be OK the way that considers to use this sort to be like will undertake, will accept especially faceless inform against, if I think this is told to informing against a person, also was to offer a very great protection.
An example in reality is in namely last year October, two citizens of Beijing informed against two enterprises to existing serious environment violates act. After informing against a success, relevant section informed against a person to extend respectively to these two bonus achieves 50 thousand yuan.
If say,be the relevant enterprise on security market, relevant perhaps negotiable securities serves an orgnaization, if also allow to build this kind to award informs against a mechanism, I feel special also to conduce to what keep within limits violates those who violate compasses act this kind to happen.
Sequel is involved " negotiable securities law " a few edit, committee of predicting finance and economics also can make a few measure related relevant castigatory undertake finishing this year. After security market is building the environment of perfect legal laws and regulations, make 3 general principles hopeful can get best protection.
To appearing on the market company and the severity of a few action making a holiday that include relevant responsibility person are hit, want to give them punishment of very tall this kind of criminal and very tall fine especially, allow these fine, best can pass on investor, I feel this covers a mechanism build if be told to broad shareholder, it may be said is very gratified!
Acknowledgment is watched today's " finance and economics surveys the home " , ask everybody to watch our program continuously!
